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Target increases dividend by 19.4%
Minneapolis -- The Target board of directors demonstrated confidence in the company’s cash generating capabilities on Wednesday and agreed to up the company’s quarterly dividend 19% to 43 cents a share.
The hefty increase ups the annual payout to $1.72 and moves the company closer to a long-term commitment to increase the full-year dividend amount to $3 by 2017. In addition, the company has established a target of growing earnings per share to $8 over the same time frame, up from $4.26 last year.
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Target’s first round of stores in Canada receives LEED certification
MISSISSAUGA, Ont. -- Target announced that its first 24 store locations in Ontario (Canada) have been awarded LEED (Leadership in Energy & Environmental Design) certification. As previously announced, the discounter is seeking LEED certification for all 124 stores scheduled to open in Canada this year.