In full transparency, the following is a press release submitted to SOURCE Media through its business wire service.
FRAMINGHAM – The TJX Companies, Inc. announced this week 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 $.3325 per share, payable June 1, 2023, to shareholders of record on May 11, 2023.
Ernie Herrman, Chief Executive Officer and President of The TJX Companies, Inc., stated, “I am pleased to announce that our Board of Directors has approved a 13% increase in our quarterly dividend. This marks our 26th dividend increase over the last 27 years. Over this period, the Company’s dividend has grown at a compound annual rate of 20%. In addition, we plan to continue our significant share buyback program, with approximately $2.0 to $2.5 billion of repurchases planned for Fiscal 2024. These actions underscore our confidence in our ability to continue delivering strong sales, profitability, and cash flow, which allows 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 28, 2023, the end of the Company’s fiscal year, the Company operated a total of 4,835 stores in nine countries, the United States, Canada, the United Kingdom, Ireland, Germany, Poland, Austria, the Netherlands, and Australia, and five e-commerce sites.