Target declares quarterly dividend

MINNEAPOLIS The board of directors of Target has declared a quarterly dividend of 16 cents per common share. The dividend is payable June 10 to shareholders of record May 20. The second quarter dividend will be the company’s 167th consecutive dividend paid since October 1967 when the company became publicly held.

Target’s dividend decision comes as the boards of directors at many other companies have been forced to reduce or curtail dividend payments in order to conserve cash.