Dividends4Life: Target Stock Is a Dividend-Raising Monster

Target Stock Is a Dividend-Raising Monster

Posted by D4L | Sunday, February 08, 2015 | | 0 comments »

There comes a time to stop throwing good money at bad ideas and simply walk away. And that’s exactly what Target Corp (TGT) is doing in its decision to leave Canada. But while Target is walking away from Canada, dividend investors shouldn’t walk away from Target stock. After a rough couple of years, TGT finally seems to have righted the ship. And I expect TGT’s dividend growth — which already put it in elite company among large-cap stocks — to accelerate as a result.

After losing about $2 billion in its Canadian operations and coming to the realization that they wouldn’t be profitable until 2021 at the earliest, Target CEO Brian Cornell made the announcement this morning. Wall Street took the news well, and Target stock jumped in premarket trading. Let’s talk dividends. Target stock’s current dividend yield, at 2.5% may not catch your attention on its own. But TGT has been growing its dividend at a 20% annual clip for over a decade. And I’m not using dated data here; TGT’s dividend growth has actually accelerated in just the past five years.

Source: InvestorPlace

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