Shares of Target Corp. undefined rallied 1.1% in premarket trading Thursday, after the discount retailer said it raised its quarterly dividend by 20%, to...
Shares of Target Corp. rallied 1.1% in premarket trading Thursday, after the discount retailer said it raised its quarterly dividend by 20%, to $1.08 a share from 90 cents a share. The new dividend will be payable Sept. 10 to shareholders of record on Aug. 17. Based on Wednesday's stock closing price of $156.70, the new annual dividend rate implies a dividend yield of 2.78%, which compares with the yield for rival Walmart Inc.'s stock of 1.
1% in premarket trading Thursday, after the discount retailer said it raised its quarterly dividend by 20%, to $1.08 a share from 90 cents a share. The new dividend will be payable Sept. 10 to shareholders of record on Aug. 17. Based on Wednesday's stock closing price of $156.70, the new annual dividend rate implies a dividend yield of 2.78%, which compares with the yield for rival Walmart Inc.'s stock WMT of 1.83% and the implied yield for the S&P 500 SPX of 1.56%.
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