Press release from Business Wire
The TJX Companies, Inc. Announces 21% Increase in Common Stock Dividend
Tuesday, April 03, 2012
The TJX Companies, Inc. Announces 21% Increase in Common Stock Dividend14:51 EDT Tuesday, April 03, 2012
FRAMINGHAM, Mass. (Business Wire) -- The TJX Companies, Inc. (NYSE:TJX), the leading off-price retailer of
apparel and home fashions in the U.S. and worldwide, today 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 $.115 per share, payable May
31, 2012, to shareholders of record on May 10, 2012.
Carol Meyrowitz, Chief Executive Officer of The TJX Companies, Inc.
stated, “I am pleased to report that our Board of Directors has approved
this 21% increase in our quarterly dividend, which marks the 16th
consecutive year in which we have raised the dividend. Over this period,
the Company's dividend has grown at a compound annual rate of 23%. In
addition, we continue to expect to repurchase approximately $1.2 billion
to $1.3 billion of TJX stock this year. Our flexible business model
enables us to generate tremendous cash flow, which allows us to fund
these shareholder distributions while also investing for future growth.
These actions, in addition to the two-for-one stock split earlier this
year, reflect our confidence in our ability to continue to drive
significant increases in sales, earnings and cash flow, and deliver
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. The Company operates 984 T.J.
Maxx, 884 Marshalls, and 374 HomeGoods stores in the United States; 216
Winners, 86 HomeSense, and 6 Marshalls stores in Canada; and 332 T.K.
Maxx and 24 HomeSense stores in Europe. TJX's press releases and
financial information are also available at www.tjx.com.
Forward-looking Statement
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT
OF 1995: Various statements made in this release are forward-looking and
involve a number of risks and uncertainties. All statements that address
activities, events or developments that we intend, expect or believe may
occur in the future are forward-looking statements. The following are
some of the factors that could cause actual results to differ materially
from the forward-looking statements: buying and inventory management;
operational expansion and management of large size and scale; customer
trends and preferences; market, banner, geographic and category
expansion; marketing, advertising and promotional programs; competition;
personnel recruitment and retention; global economic conditions and
consumer spending; data security; information systems and technology;
seasonal influences; adverse or unseasonable weather; serious
disruptions and catastrophic events; corporate and banner reputation;
merchandise quality and safety; international operations; merchandise
importing; commodity pricing; foreign currency exchange rates;
fluctuations in quarterly operating results; market expectations;
acquisitions and divestitures; compliance with laws, regulations and
orders; changes in laws and regulations; outcomes of litigation, legal
matters and proceedings; tax matters; real estate leasing; cash flow and
other factors that may be described in our filings with the Securities
and Exchange Commission. We do not undertake to publicly update or
revise our forward-looking statements even if experience or future
changes make it clear that any projected results expressed or implied in
such statements will not be realized.
The TJX Companies, Inc.Sherry LangSenior Vice PresidentGlobal
Communications(508) 390-2323
