TJX Companies Announces 20 Percent Increase in Common Stock Dividend

The TJX Companies, Inc., an off-price retailer of apparel and home fashions, announced this week its Board of Directors has raised the amount of its quarterly dividend by 20 percent from the last dividend paid.

The Board declared a regular quarterly dividend in the amount of $.21 per share, payable June 4, to shareholders of record on May 14, 2015.

“I am pleased to report that our Board of Directors has approved a 20 percent increase in our quarterly dividend, which marks the 19th consecutive year we have raised the dividend. Over this period of time, the Company’s dividend has grown at a compound annual rate of 23%. In addition, we plan to continue our significant share buyback program, with approximately $1.8 to $1.9 billion of repurchases planned for Fiscal 2016,“ said TJX CEO Carol Meyrowitz, in a press release. “With our financial strength and strong cash flow, we remain committed to returning cash to shareholders while simultaneously investing in our business to support the near- and long-term growth of TJX. These actions underscore our confidence in our ability to continue to generate superior financial returns and to deliver significant increases in sales, earnings, and cash flow.”

The TJX Companies, Inc., an off-price retailer of apparel and home fashions in the U.S. and worldwide, has its headquarters in Framingham.

As of January 31, the end of the Company’s last fiscal year, the Company operated a total of 3,395 stores in six countries, the United States, Canada, the United Kingdom, Ireland, Germany, and Poland, and three e-commerce sites.