Published June 8, 2016 8:03am EDT | Updated June 8, 2016 10:05am EDT

Target Raises Quarterly Dividend 7.1% To 60 Cents From 55 Cents

Target Corp. said Thursday it is raising its quarterly dividend by 7.1% to 60 cents a share from 55 cents. The new dividend will be payable Sept. 10 to shareholders of record as of Aug. 17. Shares were not yet active in premarket trade, but are down 6% in the year so far, while the S&P 500 has gained 3.3%.