Press release from Business Wire
The TJX Companies, Inc. Announces 26% Increase in Common Stock Dividend
Tuesday, April 02, 2013
The TJX Companies, Inc. Announces 26% Increase in Common Stock Dividend12:43 EDT Tuesday, April 02, 2013
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 26% from the last dividend paid. The Board declared a regular quarterly dividend in the amount of $.145 per share, payable June 6, 2013, to shareholders of record on May 16, 2013.
Carol Meyrowitz, Chief Executive Officer of The TJX Companies, Inc., stated, “I am pleased to report that our Board of Directors has approved a 26% increase in our quarterly dividend, which marks the 17th consecutive year of dividend increases. Over this period of time, the Company's dividend has grown at a compound annual rate of 23%. In addition to the dividend increase, we plan to continue our significant share buyback program, with approximately $1.3 billion to $1.4 billion of repurchases planned for Fiscal 2014. With our financial strength and flexibility, we remain committed to returning cash to our shareholders after reinvesting in our business to support the near- and long-term growth of TJX. These actions underscore our confidence in our ability to continue generating 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 1,036 T.J. Maxx, 904 Marshalls, 416 HomeGoods and 4 Sierra Trading Post stores as well as SierraTradingPost.com in the United States; 222 Winners, 88 HomeSense, and 14 Marshalls stores in Canada; and 348 T.K. Maxx and 24 HomeSense stores in Europe. TJX's press releases and financial information are also available at www.tjx.com.
Important Information at Website
The Company's recorded messages and conference calls are available at www.tjx.com after they are no longer available by telephone. The Company routinely posts information that may be important to investors in the Investor Information section at www.tjx.com. The Company encourages investors to consult that section of its website regularly.
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 and the success of transitions; compliance with laws, regulations and orders; changes in laws and regulations; outcomes of litigation, legal matters and proceedings; tax matters; real estate activities; 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.
Senior Vice President