Current Yield
3.50%
TTM Dividend/Share
$4.56
Payment Frequency
Quarterly
Payout Ratio
60.2%
Consecutive Growth Years
43 (Dividend Champion)
Key takeaways
- Dividend Champion — Target (TGT) has raised its dividend for 43 consecutive years.
- Target (TGT) currently yields 3.50%, paying $4.56 per share over the trailing twelve months, distributed quarterly.
- Payout ratio is 60.2% — the share of earnings distributed as dividends.
- 6 of 8 dividend safety checks passed.
- 5-year dividend CAGR of 11.02%.
Dividend yield valuation for Target (TGT)
Current dividend yield vs its own 1Y / 3Y / 5Y historical averages — a rough valuation signal.
Valuation zone | Above average — potential buy zone |
Current yield (now) | 3.50% |
1-year average yield | 4.29%now 0.79 pp below |
3-year average yield | 3.50%now in line |
5-year average yield | 2.86%now 0.64 pp above |
TGT: a yield above its history can signal value (or risk); below can signal a rich price. One valuation signal among many — review fundamentals before investing.
Dividend health for Target (TGT)
Cash-flow, leverage and returns metrics that signal whether the dividend is well-covered and sustainable.
Chowder score | 14.5% |
FCF payout ratio | 16.6% |
Net debt / EBITDA | 1.9x |
Interest coverage | 10.69x |
ROIC (TTM) | 10.7% |
Dividend safety score for Target (TGT)
Checks covering payout coverage, free-cash-flow support, leverage and dividend-growth durability.
6 of 8 checks passed
Payout ratio below 75%
Payout ratio is 60.2%, well below the 75% threshold.
Free cash flow covers dividend
TTM FCF after dividends is $1.1B — FCF fully covers the payout.
No dividend cuts in 10+ years
No dividend cuts in the last 10 years.
Positive earnings growth trend
Earnings per share have declined over the past 5 years.
10+ years of consecutive growth
43 consecutive years of dividend growth.
FCF payout ratio below 70%
FCF payout ratio is 16.6%, below the 70% threshold.
Net Debt/EBITDA below 3x
Net Debt/EBITDA is 1.9x.
Dividend growth ≤ earnings growth (5Y)
Dividend growth (11.0%) exceeds EPS growth (-14.8%) — payout ratio expanding.
This analysis is for informational purposes only and is not financial advice. Safety scores and comparisons reflect historical data and do not predict future performance.
Per-payment dividend history
174 payments from 1983 to 2026 · Adj. Dividend is split-adjusted
| Aug 12, 2026 | Sep 1, 2026 | $1.1600 | $1.1600 |
| May 13, 2026 | Jun 1, 2026 | $1.1400 | $1.1400 |
| Feb 11, 2026 | Mar 1, 2026 | $1.1400 | $1.1400 |
| Nov 12, 2025 | Dec 1, 2025 | $1.1400 | $1.1400 |
| Aug 13, 2025 | Sep 1, 2025 | $1.1400 | $1.1400 |
| May 14, 2025 | Jun 1, 2025 | $1.1200 | $1.1200 |
| Feb 12, 2025 | Mar 1, 2025 | $1.1200 | $1.1200 |
| Nov 20, 2024 | Dec 10, 2024 | $1.1200 | $1.1200 |
| Aug 21, 2024 | Sep 10, 2024 | $1.1200 | $1.1200 |
| May 14, 2024 | Jun 10, 2024 | $1.1000 | $1.1000 |
| Feb 20, 2024 | Mar 10, 2024 | $1.1000 | $1.1000 |
| Nov 14, 2023 | Dec 10, 2023 | $1.1000 | $1.1000 |
- Aug 12, 2026$1.1600
- May 13, 2026$1.1400
- Feb 11, 2026$1.1400
- Nov 12, 2025$1.1400
- Aug 13, 2025$1.1400
- May 14, 2025$1.1200
- Feb 12, 2025$1.1200
- Nov 20, 2024$1.1200
- Aug 21, 2024$1.1200
- May 14, 2024$1.1000
- Feb 20, 2024$1.1000
- Nov 14, 2023$1.1000
Historical dividend yield for Target (TGT)
Mean trailing dividend yield using one ratio snapshot per calendar year.Mean yield1Y: 4.29%5Y: 2.86%10Y: 2.87%
Dividend per share for Target (TGT)
CAGR (per year)1Y: 1.80%5Y: 11.02%10Y: 7.66%→ Stable
| Year | Total ($/share) | Payments |
|---|---|---|
| 1983 | $0.04 | 3 |
| 1984 | $0.06 | 4 |
| 1985 | $0.06 | 4 |
| 1986 | $0.07 | 4 |
| 1987 | $0.08 | 4 |
| 1988 | $0.09 | 4 |
| 1989 | $0.09 | 4 |
| 1990 | $0.11 | 4 |
| 1991 | $0.12 | 4 |
| 1992 | $0.13 | 4 |
| 1993 | $0.13 | 4 |
| 1994 | $0.14 | 4 |
| 1995 | $0.14 | 4 |
| 1996 | $0.15 | 4 |
| 1997 | $0.17 | 4 |
| 1998 | $0.18 | 4 |
| 1999 | $0.20 | 4 |
| 2000 | $0.21 | 4 |
| 2001 | $0.22 | 4 |
| 2002 | $0.24 | 4 |
| 2003 | $0.26 | 4 |
| 2004 | $0.30 | 4 |
| 2005 | $0.36 | 4 |
| 2006 | $0.44 | 4 |
| 2007 | $0.52 | 4 |
| 2008 | $0.60 | 4 |
| 2009 | $0.66 | 4 |
| 2010 | $0.84 | 4 |
| 2011 | $1.10 | 4 |
| 2012 | $1.32 | 4 |
| 2013 | $1.58 | 4 |
| 2014 | $1.90 | 4 |
| 2015 | $2.16 | 4 |
| 2016 | $2.32 | 4 |
| 2017 | $2.44 | 4 |
| 2018 | $2.52 | 4 |
| 2019 | $2.60 | 4 |
| 2020 | $2.68 | 4 |
| 2021 | $3.16 | 4 |
| 2022 | $3.96 | 4 |
| 2023 | $4.36 | 4 |
| 2024 | $4.44 | 4 |
| 2025 | $4.52 | 4 |
| 2026 | $3.44 | 3 |
Dividend growth for Target (TGT)
Year-over-year change in total annual dividend per share (split-adjusted, by ex-dividend year). Green is an increase, red a cut.
Dividend Increase Track Record
Year-over-year change in total annual DPS (dividends per share, split-adjusted), based on ex-dividend date.
| 2026 | $4.5200 | — | — |
| 2025 | $4.4400 | $4.5200 | +1.8% |
| 2024 | $4.3600 | $4.4400 | +1.8% |
| 2023 | $3.9600 | $4.3600 | +10.1% |
| 2022 | $3.1600 | $3.9600 | +25.3% |
| 2021 | $2.6800 | $3.1600 | +17.9% |
| 2020 | $2.6000 | $2.6800 | +3.1% |
| 2019 | $2.5200 | $2.6000 | +3.2% |
| 2018 | $2.4400 | $2.5200 | +3.3% |
| 2017 | $2.3200 | $2.4400 | +5.2% |
| 2016 | $2.1600 | $2.3200 | +7.4% |
| 2015 | $1.9000 | $2.1600 | +13.7% |
| 2014 | $1.5800 | $1.9000 | +20.3% |
| 2013 | $1.3200 | $1.5800 | +19.7% |
| 2012 | $1.1000 | $1.3200 | +20.0% |
| 2011 | $0.8400 | $1.1000 | +31.0% |
| 2010 | $0.6600 | $0.8400 | +27.3% |
| 2009 | $0.6000 | $0.6600 | +10.0% |
| 2008 | $0.5200 | $0.6000 | +15.4% |
| 2007 | $0.4400 | $0.5200 | +18.2% |
| 2006 | $0.3600 | $0.4400 | +22.2% |
| 2005 | $0.3000 | $0.3600 | +20.0% |
| 2004 | $0.2600 | $0.3000 | +15.4% |
| 2003 | $0.2400 | $0.2600 | +8.3% |
| 2002 | $0.2200 | $0.2400 | +9.1% |
| 2001 | $0.2100 | $0.2200 | +4.8% |
| 2000 | $0.2000 | $0.2100 | +5.0% |
| 1999 | $0.1800 | $0.2000 | +11.1% |
| 1998 | $0.1650 | $0.1800 | +9.1% |
| 1997 | $0.1533 | $0.1650 | +7.6% |
| 1996 | $0.1450 | $0.1533 | +5.7% |
| 1995 | $0.1400 | $0.1450 | +3.6% |
| 1994 | $0.1333 | $0.1400 | +5.0% |
| 1993 | $0.1267 | $0.1333 | +5.3% |
| 1992 | $0.1200 | $0.1267 | +5.6% |
| 1991 | $0.1100 | $0.1200 | +9.1% |
| 1990 | $0.0933 | $0.1100 | +17.9% |
| 1989 | $0.0850 | $0.0933 | +9.8% |
| 1988 | $0.0767 | $0.0850 | +10.9% |
| 1987 | $0.0700 | $0.0767 | +9.5% |
| 1986 | $0.0633 | $0.0700 | +10.5% |
| 1985 | $0.0560 | $0.0633 | +13.1% |
| 1984 | — | $0.0560 | — |
- 2026—
- 2025$4.5200
- 2024$4.4400
- 2023$4.3600
- 2022$3.9600
- 2021$3.1600
- 2020$2.6800
- 2019$2.6000
- 2018$2.5200
- 2017$2.4400
- 2016$2.3200
- 2015$2.1600
- 2014$1.9000
- 2013$1.5800
- 2012$1.3200
- 2011$1.1000
- 2010$0.8400
- 2009$0.6600
- 2008$0.6000
- 2007$0.5200
- 2006$0.4400
- 2005$0.3600
- 2004$0.3000
- 2003$0.2600
- 2002$0.2400
- 2001$0.2200
- 2000$0.2100
- 1999$0.2000
- 1998$0.1800
- 1997$0.1650
- 1996$0.1533
- 1995$0.1450
- 1994$0.1400
- 1993$0.1333
- 1992$0.1267
- 1991$0.1200
- 1990$0.1100
- 1989$0.0933
- 1988$0.0850
- 1987$0.0767
- 1986$0.0700
- 1985$0.0633
- 1984$0.0560
DPS sums split-adjusted amounts (adj. dividend) by ex-dividend calendar year—the same basis as the Adj. Dividend column in Dividend Payment History. The Dividend column can differ after stock splits. This table uses four decimals per annual total so the Change column matches the shown amounts; each payment row in Dividend Payment History also uses four.
Frequently asked questions
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