In full transparency, the following press release was submitted to SOURCE media through its business wire service.
FRAMINGHAM – The TJX Companies, Inc. announced its Board of Directors has raised the amount of its quarterly dividend by 13% from the last dividend paid.
The Board declared a regular quarterly dividend in the amount of $.295 per share, payable June 2, 2022, to shareholders of record on May 12, 2022.
Ernie Herrman, Chief Executive Officer and President of The TJX Companies said “I am pleased to report that our Board of Directors has approved a 13% increase in our quarterly dividend. This marks our 25th dividend increase over the last 26 years. Over this period, the Company’s dividend has grown at a compound annual rate of 21%. In addition, we plan to continue our significant share buyback program, with approximately $2.25 to $2.50 billion of repurchases planned for Fiscal 2023. These actions underscore our confidence in our ability to continue delivering profitable sales and strong cash flow, which enables us to simultaneously reinvest in the growth of the business and return significant value to our shareholders.”
The TJX Companies, Inc. is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. As of January 29, 2022, the end of the Company’s fiscal year, the Company operated a total of 4,689 stores in nine countries, the United States, Canada, the United Kingdom, Ireland, Germany, Poland, Austria, the Netherlands, and Australia, and five e-commerce sites. These include 1,284 T.J. Maxx, 1,148 Marshalls, 850 HomeGoods, 59 Sierra, and 39 Homesense stores, as well as tjmaxx.com, marshalls.com, homegoods.com, and sierra.com, in the United States; 293 Winners, 147 HomeSense, and 106 Marshalls stores in Canada; 618 T.K. Maxx and 77 Homesense stores, as well as tkmaxx.com, in Europe; and 68 T.K. Maxx stores in Australia. TJX’s press releases and financial information are available at TJX.com.