Yesterday Target Corporation (TGT) announced a 7.1% increase in its quarterly dividend. The dividend is raised from $0.56 to $0.60. The dividend pay date is September 10, 2016 to shareholders of record on August 17, 2016 (ex dividend August 15, 2016).
The new dividend amount represents an annualized dividend amount of $2.40 per share, up from $2.24. The dividend yield on current price is 3.52%.
The 3rd quarter dividend will be the company’s 196th consecutive dividend paid since October 1967 when the company became publicly held. With the increase announced yesterday, 2016 is expected to be the 45th consecutive year in which Target has increased its annual dividend.
My Vrijheid Fonds consist of 36 shares of TGT, so in 2016 my passive income will increase by $2.45 (after taxes).
My projected annual total amount from my shares of TGT will be $73.44 after taxes.
This is the 13th dividend increase for my Vrijheid Fonds in 2016. I love it!