Target Raises Dividend (TGT)

The board of directors of Target TGT has declared a quarterly dividend of 25 cents per common share. This represents a 47 percent increase from the prior quarterly rate of 17 cents per share. Target chairman Gregg Steinhafel said, "Target's cash generation is well above the amount needed for optimal reinvestment in our core business." The dividend is payable September 10, 2010 to shareholders of record August 20, 2010. The third quarter dividend will be the company's 171st consecutive dividend payment. Shares of Target are up 75 cents, or 1.43%, to $53.17 today.