UPDATE: TJX Cos. (TJX) Raises Quarterly Dividend 20% to $0.21; 1.2% Yield

(Updated - March 31, 2015 11:01 AM EDT)

TJX Cos. (NYSE: TJX) declared a quarterly dividend of $0.21 per share, or $0.84 annualized. This is a 20% increase from the prior dividend of $0.175.

The dividend will be payable on June 4, 2015, to stockholders of record on May 14, 2015, with an ex-dividend date of May 12, 2015.

The annual yield on the dividend is 1.2 percent.

"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.”

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