Today Target (TGT) announced a 6.25% increase in the company's quarterly dividend. The new quarterly dividend increases to 17 cents per share versus 16 cents per share in the same period a year ago. The projected dividend payout ratio is 24% based the January 2010 earnings per share estimate of $2.85. This compares to the 5-year average payout ratio of 13%. Lastly, Target carries an S&P Earnings & Dividend Quality Ranking of A+.
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