The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

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