Target Corporation Increases Quarterly Dividend by 32 Percent
MINNEAPOLIS, June 9, 2021 /PRNewswire/ -- The board of directors of Target Corporation (NYSE:TGT) has declared a quarterly dividend of 90 cents per common share, a
Michael Fiddelke, executive vice president and chief financial officer of Target Corporation, said "The dividend increase we're announcing today reflects our ongoing commitment to disciplined capital deployment, with priorities that have remained consistent for decades: We first look to invest fully in our business, in projects that meet our strategic and financial criteria. We then look to support our dividend, and build on our record of increasing the annual dividend, which we've maintained for nearly 50 years. And finally, over time, we look to return any other excess cash through share repurchases, within the limits of our strong, middle-A credit ratings.
Given strong operating performance and cash generation, our business is well-positioned to support this robust increase in the dividend, even as we ramp up capital investments in our business and continue to invest in our team."
About Target
Minneapolis-based Target Corporation (NYSE: TGT) serves guests at more than 1,900 stores and at Target.com. Since 1946, Target has given
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SOURCE Target Corporation