Minneapolis -- Target Corp. anticipates that its annual dividend may hit $3 per share or more by 2017, if its annual earnings are at $8 per share or more by that time.
Target on Monday said it has paid a dividend every quarter since it became a public company in 1967, and in 2011 the company marked its 40th consecutive year of annual dividend increases.
Target also announced that it plans to invest $1.5 billion or more in buybacks in 2012. It invested nearly $1.9 billion in stock repurchases last year.