Target has apparently removed a press release from its website that announced a dividend increase and updates to its share buyback program.
Earlier on Tuesday, reports crossed that the company was raising its quarterly dividend by 7.7% to $US0.56, and extending its share buybacks by $US5 billion.
Bloomberg reported that Target’s Chief Financial Officer, John Mulligan, said in the statement: “Today’s announcements reinforce Target’s long history of thoughtfully returning cash to shareholders through dividends and share repurchase.”
Target’s share price rose slightly and entered positive territory in late afternoon trading after the news broke. The stock was little changed in after hours trading.
We’ve reached out to Target and will update if we hear back.
CNBC has a screengrab of the release here.