Target announced an increase in dividends and its share buyback program on Wednesday morning after accidentally publishing a statement the day before.
The company declared a dividend of $US0.56 per common share, a 7.7% increase from its previous dividend of $US0.52.
The company also announced that it is doubling its share buyback program to $US10 billion from $US5 billion.
On Tuesday afternoon, Target mistakenly posted a statement on website that reflected this news, but took it down minutes later.
The board met last night ahead of the shareholders meeting on Wednesday.
In a statement released Wednesday, John Mulligan, the chief financial officer, wrote, “today’s announcements reinforces Target’s long history of thoughtfully returning cash to shareholders through dividends and share repurchase.”
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