3.2% Dividend Increase from Target (TGT)

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Dividend Increase Announcement

On June 13th, Target announced a dividend increase of 3.2%. This will increase their dividend per quarter from $0.62 to $0.64. It is payable on September 10th for shareholders of record on August 15th. The new quarterly dividend represents an annualized dividend amount of $2.56 per share as compared to the current annualized dividend amount of $2.48 per share.

Target Dividend Information

Annual Dividend: $2.56
Dividend Yield: 3.28%
Payout Ratio: 48.5%
Dividend Growth History: 50 years

Dividend Increase Effect On More Dividends

I am currently holding 19.108 shares of Target. With this 3.2% increase it will add $1.52 to my Projected Annual Dividend Income.

Conclusion

Today, Target announced this dividend increase. The company has done great for me so far. I was able to start a position on the way down and I have been riding the stock on the way back up. If it were to drop below my cost basis It would be a stock that I would consider buying more of but I have no intentions of adding to this position at the current moment.

Regardless of how large or small, I love all dividend increases. That is how we end up with More Dividends 😉

Do you currently hold any stock in Target? What do you think of this dividend increase? Just let me know in the comments.

As always I look forward to reading all of your comments and questions, until then….. happy investing!

-Jason from MoreDividends.com

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