NEW YORK (
shares rose during Thursday's session after the U.S. retailer upped its dividend by 47%.
said late Wednesday that it is increasing its regular quarter dividend to 25 cents per share from 17 cents. The increase pushes Target's dividend yield to 1.88% from 1.28%.
Target Chairman and CEO Gregg Steinhafel said the increase comes as the retailer's cash generation is "well above the amount needed for optimal reinvestment in our core business."
The dividend is payable Sept. 10 to shareholders of record Aug. 20, Target said. Shares were lately up $1.04, or 2%, to $53.41.
( DLM) increased its quarterly dividend by 80% to 9 cents per share, news that sent the company's stock higher by 6.8% to $15.67. The increase boosts Del Monte's dividend yield to 2.3% from 1.38%.
Del Monte's dividend increase comes as the company reported fiscal fourth-quarter earnings of 31 cents a share on revenue of $954 million, compared to the Thomson Reuters average estimate for a profit of 22 cents a share on revenue of $1 billion.
Del Monte also announced a $350 million share repurchase authorization.
American Eagle Outfitters
shares rose 4% to $12.70 after the apparel retailer raised its quarterly cash dividend by a penny to 11 cents per share. The dividend is payable on July 9 to stockholders of record at the close of business on June 28.
American Eagle Outfitters will have an annualized dividend yield of 3.45%, up from 3.15% previously.
increased its quarterly dividend by 6% to 18 cents per share, payable on Aug. 6 to shareholders of record at the close of business on July 26.
Shares of C.R. Bard, which also announced a $500 million share repurchase authorization, were up 2.8% to $79.88.
In other dividend news,
Universal Technical Institute
declared a special cash dividend of $1.50 per share payable on July 16 to common stockholders of record as of July 6. Shares of Universal Technical rose 3.6% to $23.40.
-- Written by Robert Holmes in Boston
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