Publish date:

Target Boosts Dividend 47%

Target is upping its quarterly dividend 47%.



) --


(TGT) - Get Report

announced Wednesday that it is nearly doubling its quarterly dividend.

Target will award shareholders of record as of Aug. 20, 25 cents a share from 17 cents a share. The dividend is payable on Sept. 10.

TheStreet Recommends

"Target's cash generation is well above the amount needed for optimal reinvestment in our core business," Target Chairman and Chief Executive Gregg Steinhafel said in a statement. "Because we expect to continue to return excess cash to our shareholders through a combination of regular dividends and opportunistic share repurchase, we believe it is appropriate to increase the amount returned through the quarterly dividend."

10 Stocks with Special Dividend Potential >>

-- Reported by Jeanine Poggi in New York.

Follow on


and become a fan on