Target Increases Dividend by 3.1%

Dividend Increase Announcement

On June 13th, Target announced a dividend increase of 3.1%. This will increase their dividend per quarter from $0.64 to $0.66. It is payable on September 10th for shareholders of record on August 21st. The new quarterly dividend represents an annualized dividend amount of $2.64 per share as compared to the current annualized dividend amount of $2.56 per share.

Target Dividend Information

Annual Dividend: $2.64
Dividend Yield: 2.90%
Dividend Growth History: 51 years

Dividend Increase Effect On More Dividends

I am currently holding 19.746 shares of Target. With this 3.1% increase, it will add $1.58 to my Projected Annual Dividend Income.

Conclusion

I haven’t been able to add to this position in years because the share price has been way above my cost basis. A few years ago when the share priced dropped during the big bathroom scandal, I wish that I would have strengthened this position even more. I knew then that it wouldn’t affect the core business of the company.

They have steadily been increasing their dividend for over half century with no signs of slowing up anytime soon.

I did feel like they would make a larger increase than this but hey who am I to complain.

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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