- Target (NYSE:TGT) announces it launched a new $5B share repurchase program. The company says it will begin repurchasing shares under the new authorization after the current $10B program is tapped out, likely before the end of the fiscal year.
- Target also declared a quarterly dividend of 60 cents per common share.
- “Today’s announcements reinforce Target’s longstanding commitment to thoughtfully returning cash to shareholders while continuing to prioritize investing in our business,” says CFO Cathy Smith.
- Source: Press Release