TJX Companies increases quarterly dividend by 13 percent
The TJX Companies, Inc. has raised the amount of its quarterly dividend by 13 percent from the last dividend paid.
The company’s board declared a regular quarterly dividend in the amount of 0.3325 cents per share, payable June 1, 2023, to shareholders of record on May 11, 2023.
Commenting on the dividend increase, Ernie Herrman, chief executive officer and president of The TJX Companies, Inc., stated: “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 percent. In addition, we plan to continue our significant share buyback program, with approximately 2 to 2.5 billion dollars 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,” Herrman added.
As of January 28, 2023, 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.