The TJX Companies, Inc. Announces 18% Increase in Common Stock Dividend
The TJX Companies, Inc. (NYSE:TJX), the leading off-price apparel and home fashions retailer in the U.S. and worldwide, today announced that its Board of Directors has raised the amount of its quarterly dividend by 18% from the last dividend paid. The Board declared a regular quarterly dividend in the amount of $.23 per share, payable June 6, 2019, to shareholders of record on May 16, 2019.
Ernie Herrman, Chief Executive Officer and President of The TJX Companies, Inc., stated, “I am pleased to report that our Board of Directors has approved an 18% increase in our quarterly dividend. This marks our 23rd consecutive year of dividend increases. Over this period, the Company’s dividend has grown at a compound annual rate of 22%. In addition, we plan to continue our significant share buyback program, with approximately $1.75 to $2.25 billion of repurchases planned for Fiscal 2020. TJX continues to generate tremendous amounts of cash and deliver strong financial returns. These actions underscore our confidence in our ability to continue delivering profitable sales and strong cash flow, which enables us to simultaneously reinvest in the growth of the business and return value to our shareholders.”
About The TJX Companies, Inc.
The TJX Companies, Inc. is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. As of February 2, 2019, the end of the Company’s fiscal year, the Company operated a total of 4,306 stores in nine countries, the United States, Canada, the United Kingdom, Ireland, Germany, Poland, Austria, the Netherlands, and Australia, and three e-commerce sites. These include 1,252 T.J. Maxx, 1,091 Marshalls, 749 HomeGoods, 35 Sierra, and 16 Homesense stores, as well as tjmaxx.com and sierra.com in the United States; 271 Winners, 125 HomeSense, and 88 Marshalls stores in Canada; 567 T.K. Maxx and 68 Homesense stores, as well as tkmaxx.com, in Europe; and 44 T.K. Maxx stores in Australia. TJX’s press releases and financial information are available at tjx.com.
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