Target raises dividend, to boost implied yield to 3.3%

Shares of Target Corp. TGT tacked on 0.2% in premarket trading Thursday, after the discount retailer raised its quarterly dividend by 1.9%, to $1.10 a share from $1.08. Shareholders of record on Aug. 16 will be paid the dividend on Sept. 10. Based on Wednesday’s stock closing price of $133.23, the new annual dividend rate implies a dividend yield of 3.30%, which compares with the yield of rival Walmart Inc. WMT of 1.45% and the implied yield for the S&P 500 SPX of 1.57%.

TGT tacked on 0.2% in premarket trading Thursday, after the discount retailer raised its quarterly dividend by 1.9%, to $1.10 a share from $1.08. Shareholders of record on Aug. 16 will be paid the dividend on Sept. 10. Based on Wednesday’s stock closing price of $133.23, the new annual dividend rate implies a dividend yield of 3.30%, which compares with the yield of rival Walmart Inc. WMT of 1.45% and the implied yield for the S&P 500 SPX of 1.57%.

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asian markets rise as Fed holds rates steady, China posts weaker economic dataAsian shares were mostly higher Thursday after the U.S. Federal Reserve held interest rates steady.
Source: MarketWatch - 🏆 3. / 97 Read more »