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Target unveils new $5B share buyback program

Target Corp. on Sept. 19 unveiled a new $5 billion share buyback program.

Target will begin repurchasing shares under the new program after completing a $5 billion share repurchase program that was launched in 2016. It expects to close the current program in fiscal 2020.

The general merchandise retailer also announced a quarterly dividend of 66 cents per common share. The dividend, unchanged from the previous quarter, is payable Dec. 10 to shareholders of record at the close of business on Nov. 20.