The TJX Companies, Inc., the leading off-price retailer of apparel and home fashions in the U.S. and worldwide, announced that its Board of Directors has raised the amount of its quarterly dividend by 21% from the last dividend paid.
The Board declared a regular quarterly dividend in the amount of $.175 per share, payable June 5, 2014, to shareholders of record on May 15, 2014.
Carol Meyrowitz, Chief Executive Officer of The TJX Companies, Inc., stated, “I am pleased to report that our Board of Directors has approved a 21% increase in our quarterly dividend, which marks the 18th 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 $1.6 to $1.7 billion of repurchases planned for Fiscal 2015.
“With our tremendous cash flow and excellent financial returns, we remain committed to returning cash to our shareholders while continuing to invest in the near- and long-term growth of TJX. All of this underscores our confidence in our ability to continue to deliver significant increases in sales, earnings, and cash flow, and generate superior financial returns.”
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 1, 2014, the end of the Company’s fiscal year, the Company operated a total of 3,219 stores in six countries, the United States, Canada, United Kingdom, Ireland, Germany, and Poland, and three e-commerce sites.