Just ahead of the meeting, Target's board declared a dividend of 52 cents a share. That's a 21% increase from the prior dividend of 43 cents. That brings the yield to 3.6%, well above the 2.5% yield of Wal-Mart Stores, the largest retailer and a benchmark for the sector.
Target's full statement:
The board of directors of Target Corporation has declared a quarterly dividend of 52 cents per common share. The dividend is payable September 10, 2014 to shareholders of record at the close of business August 20, 2014. The 3rd quarter dividend will be the company’s 188th consecutive dividend paid since October 1967 when the company became publicly held.