Target Corp. has reaffirmed its commitment to shareholders by announcing a 1.8 percent increase in its quarterly dividend, now set at $1.12 per common share. This increase is from the previous quarterly dividend of $1.10.
The dividend is payable on September 10, 2024, to shareholders of record at the close of business on August 21, 2024.
The dividend increase comes after Target, on May 22, reported that first-quarter earnings missed estimates, as its sales fell about 3 percent year-over-year. The retailer noted that consumers bought fewer everyday items (food and essentials) and discretionary goods (apparel and home decor).
Target reported that the third-quarter dividend would mark the company’s 228th consecutive dividend since October 1967, when the company became publicly held.
With the increase announced today, June 12, the retailer reported it is on track for 2024 to be the 53rd consecutive year Target has increased its annual dividend.
Image courtesy Target
