The TJX Companies, Inc. Announces 20% Increase in Common Stock Dividend
01 April 2015 - 2:21AM
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 20% from the last dividend paid. The
Board declared a regular quarterly dividend in the amount of $.21
per share, payable June 4, 2015, to shareholders of record on May
14, 2015.
Carol Meyrowitz, Chief Executive Officer of The TJX Companies,
Inc., stated, “I am pleased to report that our Board of Directors
has approved a 20% increase in our quarterly dividend, which marks
the 19th consecutive year we have raised the dividend. Over this
period of time, the Company’s dividend has grown at a compound
annual rate of 23%. In addition, we plan to continue our
significant share buyback program, with approximately $1.8 to $1.9
billion of repurchases planned for Fiscal 2016. With our financial
strength and strong cash flow, we remain committed to returning
cash to shareholders while simultaneously investing in our business
to support the near- and long-term growth of TJX. These actions
underscore our confidence in our ability to continue to generate
superior financial returns and to deliver significant increases in
sales, earnings, and cash flow.”
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. As of January
31, 2015, the end of the Company’s last fiscal year, the Company
operated a total of 3,395 stores in six countries, the United
States, Canada, the United Kingdom, Ireland, Germany, and Poland,
and three e-commerce sites. These include 1,119 T.J. Maxx, 975
Marshalls, 487 HomeGoods and 6 Sierra Trading Post stores, as well
as tjmaxx.com and sierratradingpost.com in the United States; 234
Winners, 96 HomeSense, and 38 Marshalls stores in Canada; and 407
T.K. Maxx and 33 HomeSense stores, as well as tkmaxx.com, in
Europe. TJX’s press releases and financial information are also
available at tjx.com.
Important Information at
Website
The Company routinely posts information that may be important to
investors in the Investor Information section at tjx.com. The
Company encourages investors to consult that section of its website
regularly.
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: execution of buying strategy
and inventory management; operational and business expansion and
management of large size and scale; customer trends and
preferences; marketing, advertising and promotional programs;
competition; personnel recruitment, training and retention; labor
costs and workforce challenges; economic conditions and consumer
spending; data security; information systems and new technology;
adverse or unseasonable weather; serious disruptions or
catastrophic events; seasonal influences; corporate and retail
banner reputation; merchandise quality and safety; expanding
international operations; merchandise importing; commodity pricing;
fluctuations in currency exchange rates; fluctuations in quarterly
operating results and market expectations; mergers, acquisitions,
or business investments and divestitures, closings or business
consolidations; 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.Debra McConnellGlobal Communications(508)
390-2323
TJX Companies (NYSE:TJX)
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