On Thursday, Target (TGT) announced a 16.7% increases in the company's quarterly cash dividend. The company also increased its share buyback program by $3 billion to $8 billion. Shares remaining to be repurchased under the program total $4 billion.
- the quarter dividend increase to 14 cents per share versus 12 cents per share in the same quarter last year.
- payout ratio on estimated 2008 earnings of $4.71 is approximately 12%.
- Target's S&P Quality Ranking is A+.
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