Target Corporation (TGT) will raise its quarterly dividend by 3.1 percent to $0.66 per share in 2019. This marks the 48th consecutive year of dividend increases by this Dividend Aristocrat and follows a 3.2 percent dividend hike by the retailer last year.

The next dividend is payable September 10, 2019 to shareholders of record at the close of business August 21, 2019.  A new annual rate of 68 cents per share yields 3.0% at a stock price of $88.43.

Target Corporation is a general merchandise retailer selling a wide assortment of general merchandise and food. The majority of Target's stores offer an edited food assortment comparable to traditional supermarkets, including perishables, dry grocery, dairy, and frozen items. The company sells national branded merchandise and its own branded products. Target was incorporated in Minnesota in 1902 and became publicly held in 1967.