Retailer Target is continuing an amazing financial feat.
The Minneapolis-based company has declared a quarterly dividend for the 230th consecutive time.
The Target Corporation board of directors announced a dividend of $1.12 per common share. It will be payable on March 1, 2025 to shareholders of record at the close of business on Feb. 12, 2025.
This will be the company's 230th consecutive dividend paid since Oct. 1967 when the company became publicly traded.
The company had a downbeat earnings report in the third quarter of 2024. Sales fell in the quarter and the large retailer lowered guidance for the fourth quarter, meaning it didn't expect holiday sales to match previous estimates.
The latest earnings report is expected later this month.
Target has nearly 2,000 stores and more than 400,000 employees.
While the more than 50 year streak of paying dividends is impressive, Target has a long way to go to catch up with the longest continuous streak. The York Water Company has not missed paying a dividend in more than 200 years, according to Insider Monkey.
