United States Of America : TJX declares 22% increase in common stock dividend

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TJX declares 22% increase in common stock dividend

02
Apr '08

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 declared a regular quarterly dividend in the amount of $.11 per share, representing a 22% increase in the per share amount from the last dividend paid. The dividend is payable May 29, 2008, to shareholders of record on May 8, 2008.

Carol Meyrowitz, President and Chief Executive Officer of The TJX Companies Inc stated, “I am pleased to report that our Board of Directors has voted this 22% increase in our quarterly dividend to shareholders, which underscores our continued confidence in the strength of our business and our ability to drive profitable sales growth.

Our strong operations generate substantial cash flow, which allows us to return value to shareholders through our dividends and share repurchase programs.

As we previously announced, our Board of Directors authorized the purchase of $1.0 billion of TJX common stock in addition to the $486 million remaining under our existing program at the end of last year. We continue to expect to repurchase approximately $900 million of TJX stock in 2008.”

The TJX Companies Inc

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