Target has raised its dividend for 55 consecutive years. Its board declared a $1.16 quarterly payout on Sept. 23, payable Dec. 1 to holders of record Nov. 11; sales reached $26 billion, up 5%, and comparable sales rose 3.8% in the quarter ended Aug. 1.
Comparable-sales growth was driven largely by a 3.6% rise in traffic, reversing the 1.9% decline in the year-ago quarter. Earnings per share rose 20% year over year excluding tariff refunds, while management continued to flag weakness in home goods and apparel.
The article puts the forward dividend yield at about 2.95%; Target’s trailing payout ratio was about 47% of earnings. The company expects to spend about $5 billion on capital projects and targets a 40% payout ratio over the long term.
