Thursday, June 11, 2020

Dividend Increase – Target Corporation (TGT)

Today, June 11th the Board of Directors of Target Corporation announced a quarterly dividend increase of from $ 0.66 to $ 0.68 per share that’s payable September 10, 2020 to holders of record August 19, 2020. This represents a 3.03% increase over last quarterly dividend.

The 3rd quarter dividend will be the company's 212th consecutive dividend paid since October 1967 when the company became publicly held.  With the increase announced today, 2020 is on track to be the 49th consecutive year in which Target has increased its annual dividend.

With current price $ 118.57 (today's open), this raise brings their dividend yield to 2.29%.

TGT is a Dividend Champions with a 52 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 3.2, 3.9, 6.5 and 14.7. (Dividend Champions.xls)

Since I own 115 shares of TGT, this will increase my portfolio's projected annual net dividend income by $ 6.85.

This increase raises my YOC to 4.63%.

Summary of 2020 Dividend Increases / Cuts

As you can see, a few rather large dividend cuts will have the effect that full-year growth will be negative. I also believe that there will come more cuts during this year.

Click here to see my portfolio holdings.

You can follow the development of my dividends here.

Full Disclosure: Long TGT

Thanks for stopping by!

1 comment:

  1. Hawk -

    I loved the increase and O had increased earlier this week too. Happy to see a few increases, though I just received a dividend cut from CIM the other day. Agh.