Three S&P 500 companies announced dividend increases, with Target extending its 55-year streak at a modest 2% raise.
Target, Caterpillar, and FedEx raised quarterly dividends following the spring earnings season. Target, a Dividend King, increased its payout by nearly 2% to $1.16 per share, marking 55 consecutive years of raises.
The retailer’s stock has rebounded in 2026 after hitting multi-year lows in 2025, driven by CEO Michael Fiddelke’s turnaround plan. However, projected net sales growth remains modest at 2%, with $2 billion earmarked for investments this year.
Market reaction to the dividend announcements has been muted, as investors weigh the companies’ growth prospects against broader economic conditions.