Target Corporation Declares Regular Quarterly Dividend

Rhea-AI Summary

Target Corporation (TGT) has declared a quarterly dividend of $1.10 per common share, payable on March 10, 2024, to shareholders of record at the close of business on February 21, 2024. This marks the 226th consecutive dividend paid by the company since October 1967 when it became publicly held.

Positive

• The company has a long history of paying dividends, indicating financial stability and consistent returns for shareholders.

Negative

• None.

Insights

Financial Analyst

The declaration of a quarterly dividend of $1.10 per common share by Target Corporation represents a continuation of the company's long-standing policy of returning value to its shareholders. This action is indicative of the company's financial health and its ability to generate sufficient cash flow to support such distributions. Investors often view regular dividends as a sign of a company's stability and may factor this into their investment decisions, potentially affecting the stock's demand and price.

It is also crucial to assess the dividend yield, which is the dividend per share divided by the share price. This metric is often compared to the yields of other companies in the retail sector and the broader market indices. A higher yield can make the stock more attractive to income-seeking investors, while a lower yield might suggest that the stock is priced higher relative to its dividend payouts.

Market Research Analyst

Target's consistent dividend payments since 1967 underscore the company's market position and operational consistency. This track record may enhance investor confidence, particularly among those prioritizing income and long-term investment strategies. Such a history of dividends could be seen as a sign of resilience, especially in the volatile retail industry, which faces challenges from e-commerce competition and changing consumer behaviors.

However, it is important to monitor the payout ratio, which is the percentage of earnings paid out as dividends. An excessively high payout ratio may not be sustainable in the long term and could limit the company's ability to reinvest in growth opportunities. Conversely, a moderate payout ratio may indicate a balance between rewarding shareholders and funding future expansion or innovation.

MINNEAPOLIS, Jan. 17, 2024 /PRNewswire/ -- The board of directors of Target Corporation (NYSE: TGT) has declared a quarterly dividend of $1.10 per common share.  The dividend is payable March 10, 2024 to shareholders of record at the close of business February 21, 2024.  The 1st quarter dividend will be the company's 226th consecutive dividend paid since October 1967 when the company became publicly held.

About Target

Minneapolis-based Target Corporation (NYSE: TGT) serves guests at nearly 2,000 stores and at Target.com, with the purpose of helping all families discover the joy of everyday life. Since 1946, Target has given 5% of its profit to communities, which today equals millions of dollars a week. Additional company information can be found by visiting the corporate website and press center. 

 

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SOURCE Target Corporation

FAQ

What is the dividend amount declared by Target Corporation (TGT)?

The quarterly dividend declared by Target Corporation (TGT) is $1.10 per common share.

When will the dividend be payable to shareholders of Target Corporation (TGT)?

The dividend will be payable on March 10, 2024, to shareholders of record at the close of business on February 21, 2024.

How many consecutive dividends has Target Corporation (TGT) paid since becoming publicly held?

Target Corporation (TGT) has paid 226 consecutive dividends since October 1967 when it became publicly held.