Shares of Target Corp. TGT tacked on 0.2% in premarket trading Thursday, after the discount retailer raised its quarterly dividend by 1.9%, to $1.10 a share from $1.08. Shareholders of record on Aug. 16 will be paid the dividend on Sept. 10. Based on Wednesday’s stock closing price of $133.23, the new annual dividend rate implies a dividend yield of 3.30%, which compares with the yield of rival Walmart Inc. WMT of 1.45% and the implied yield for the S&P 500 SPX of 1.57%. Target said it has now increased its dividend for the 52nd consecutive year. The stock has dropped 10.6% year to date through Wednesday, while Walmart shares have climbed 10.6% and the S&P 500 has gained 13.9%.
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