Yesterday Target Corporation (TGT) announced a 7.7% increase in its quarterly dividend. The dividend is raised from $0.52 to $0.56. The forward yield is now right around 2.84%. The dividend pay date is September 10, 2015 to shareholders of record on August 19, 2015. The ex dividend date is August 17, 2015.
The new dividend amount represents an annualized dividend amount of $2.24 per share, up from $2.08
Furthermore TGT said it would double its share buyback program to $ 10 billion.
TGT CFO John Mulligan said: “Given our outlook for capital expenditures and the strong cash generation of our core business, we expect to have the capacity to increase our annual dividend and repurchase billions of dollars of Target shares annually while maintaining our current credit ratings”.
All in all very good news for investors! This kind of announcements makes me happy
Since my Vrijheid Fonds consist of 36 shares of TGT, my annual dividends will increase by $4.90 (after taxes). My annual total amount from my shares of TGT will be $68.54 (after taxes).