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Target hikes dividend, buyback

Minneapolis – The board of directors of Target Corp. declared a third-quarter dividend of $0.14 per common share, a 16.7% increase in its regular dividend.

 

Payable Sept. 10, 2007 to shareholders of record Aug. 20, the dividend will be the company's 160th consecutive dividend paid since going public in October 1967.

 

The 1,500-store retailer also increased its ongoing $5 billion share repurchase authorization to a total buyback ceiling of $8 billion. Target said the program will primarily be executed “in open market transactions, subject to market conditions,” with completion “by year-end 2010 or sooner.”

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

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