Attention Target Investors: Company Increases Dividend By 6%
- June 11, 2009
- Dividend News, Dividend Stocks
- Add a comment
Retailer Target (TGT: 52.70 +0.25%) announced today that its Board of Directors has approved a 6% increase in their quarterly dividend to $.17 per share.
Target’s current dividend yield now stands at 1.7%.
The dividend will be payable on September 10, 2009 to shareholders of record as of August 20, 2009.
The third quarter dividend will be the company’s 168th consecutive dividend paid since October 1967 when the company went public.
The markets seemed to shrug off news of the dividend increase today as the stock was down 0.5% to $40.17 in mid-morning trading. Since the beginning of 2009, TGT shares have gained over 16%.
The company recently emerged victorious from a highly-publicized proxy fight with Pershing Square Capital Management’s William Ackman.
