If you love dividend stocks or rely on income from your investments, then you should take a good look at Target (NYSE:TGT), the nationwide discount retailer headquartered in Minneapolis.

Aside from its size and impressive growth over the years, there are at least three reasons its stock is well-suited for a dividend investor's portfolio. First, it yields 2.9% compared to the S&P 500 (SNPINDEX:^GSPC) which yields 1.98%. Second, it distributes a reasonable 51% of its earnings, leaving plenty of room to increase its dividend if the company's board of directors chooses to do so. Finally, Target has both paid and increased its dividends consistently for 46 years.

It's for these reasons that Motley Fool contributor John Maxfield concludes in the following video that Target is indeed a great dividend stock for income-seeking investors to buy and own today.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.