The Minneapolis, Minnesota-based retailer said it had invested $3.7 billion through the first quarter of 2015 to retire 56.9 million shares under the buyback program. Target also raised its quarterly dividend to 56 cents per share from 52 cents in the prior quarter. “Given our outlook for capital expenditures and the strong cash generation of our core business, we expect to have the capacity to increase our annual dividend and repurchase billions of dollars of Target shares annually while maintaining our current credit ratings,” Target Chief Financial Officer John Mulligan said in a statement.