Target Boosts Dividend 7.7%, Expands Buybacks by $5 Billion
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Target Corp. increased its dividend 7.7 percent to 56 cents a share and boosted its stock buyback plan by $5 billion, rewarding investors after profit topped estimates last quarter.
The next quarterly dividend, which met analysts’ estimates, will be paid Sept. 10 to shareholders of record at the close of Aug. 19, Target said in a statement Tuesday. The stock buyback program was increased to a total of $10 billion.