A Dividend increase by Target.
Tuesday Target Corporation (TGT) announced a 3.2% increase in its quarterly dividend. The dividend is raised from $0.62 to $0.64. The dividend pay date is September 10, 2018 to shareholders of record on August 15, 2018 (ex dividend August 14, 2018).
The 3rd quarter dividend will be the company’s 204th consecutive dividend paid since October 1967 when the company became publicly held. With the increase announced this week, 2018 is expected to be the 47th consecutive year in which Target has increased its annual dividend.
The new dividend amount represents an annualized dividend amount of $2.56 per share, up from $2.48. The dividend yield on current price is 3.24%.
My Vrijheid Fonds consist of 70 shares of TGT and with this 3.2% increase it will add €2.02 ($2.38) after taxes, to my projected dividend income for 2018.
In 2018 Target will pay me approx. €125 dividend after taxes.
After the 3.3% increase of Targets dividend in 2017, we see again a dividend increase below their 5-year DGR in 2018. Furthermore, Targets has lowered their share count in 2017 by approx. 5.5%. The total dividends Target will pay this year will therefore actually be lower than what the company paid out to its owners last year.
This is the 19thdividend increase for my Vrijheid Fondsin 2018. I love it!
Do you currently hold any stock in Target and what do you think of this dividend increase? I like to hear from you!