MINNEAPOLIS, Jun 09, 2010 (BUSINESS WIRE) --The board of directors of Target Corporation (NYSE:TGT) has declared a quarterly dividend of 25 cents per common share, a 47 percent increase from the prior quarterly rate of 17 cents per common share.

"Target's cash generation is well above the amount needed for optimal reinvestment in our core business," said Gregg Steinhafel, chairman, president and chief executive officer of Target Corporation. "Because we expect to continue to return excess cash to our shareholders through a combination of regular dividends and opportunistic share repurchase, we believe it is appropriate to increase the amount returned through the quarterly dividend."

The dividend is payable September 10, 2010 to shareholders of record August 20, 2010. The third quarter dividend will be the company's 171^st consecutive dividend paid since October 1967 when the company became publicly held.

The statements on expected dividends and share repurchase are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements speak only as of the date they are made and are subject to risks and uncertainties, which could cause the company's actual results to differ materially. The most important risks and uncertainties are described in the company's Form 10-K for the fiscal year ended January 30, 2010.

About Target

Target Corporation's retail segment includes large general merchandise and food discount stores and Target.com, a fully integrated on-line business. In addition, Target Corporation operates a credit card segment that offers branded proprietary credit card products. Target Corporation currently operates 1,740 Target stores in 49 states. Target Corporation news releases are available at www.target.com.

SOURCE: Target Corporation

Target Corporation
John Hulbert, 612-761-6627 (investors)
Eric Hausman, 612-761-2054 (media)