Target Boosts Dividend By 1.9%

Target Corp TGT has declared a quarterly dividend of $1.10 per common share, a 1.9% increase from the prior quarterly dividend of $1.08.

The dividend is payable on September 10, 2023, to shareholders of record at the close of business on August 16, 2023. 

The Q3 dividend will be the company's 224th consecutive dividend paid since October 1967, when the company became publicly held.

With the latest increase, 2023 is on track to be the 52nd consecutive year in which Target has increased its annual dividend.

The company held $1.3 billion in cash and equivalents as of April 29, 2023. Operating cash flow for the quarter totaled $1.26 billion.

Also Read: Target's Margins Could Be Hit By Student Loan Payment Resumption, Says Analyst

Price Action: TGT shares are trading higher by 0.95% at $134.50 in premarket on the last check Thursday.