Supermarket operator Target Corporation (TGT) announced on Wednesday that the company’s Board of Directors has approved an increase of 20% in the quarterly dividend.
Target pointed out that the new quarterly dividend amount is 36 cents per share and, an increase of 20%, compared to the prior $30 per share. The new dividend will be paid out on September 10, 2012 to the shareholders of record at the close of business August 15, 2012. Target has paid 180 consecutive quarterly dividends since the company went public in 1967.
The world’s largest construction machinery maker Caterpillar (CAT) said on Wednesday that its Board of Directors has approved a quarterly dividend hike of 13%, from 46 cents to 52 cents per share. The company has paid dividends since 1914.