Target Hikes Its Dividend: What This Means for Investors

Target raised its dividend again, extending a very impressive streak of annual increases. Here's what you need to know.

The outside of a Target store in Manhattan on a rainy day
(Image credit: Spencer Platt/Getty Images)

Target (TGT) gave income investors something to cheer about Wednesday, when the discount retailer announced another dividend hike, extending its long streak of annual increases.

The 1.8% increase brings Target's quarterly dividend to $1.12 per share, or $4.48 per share on an annual basis. This works out to be less than half of analysts' expected earnings of $9.35 for the full fiscal year. The next dividend is payable on September 10 to shareholders of record at the close of business on August 21.

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Joey Solitro
Contributor

Joey Solitro is a freelance financial journalist at Kiplinger with more than a decade of experience. A longtime equity analyst, Joey has covered a range of industries for media outlets including The Motley Fool, Seeking Alpha, Market Realist, and TipRanks. Joey holds a bachelor's degree in business administration.