The TJX Companies, Inc. Announces 21% Increase in Common Stock Dividend
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 21% from the last dividend paid. The Board declared a regular quarterly dividend in the amount of $.175 per share, payable June 5, 2014, to shareholders of record on May 15, 2014.
Carol Meyrowitz, Chief Executive Officer of The TJX Companies, Inc., stated, “I am pleased to report that our Board of Directors has approved a 21% increase in our quarterly dividend, which marks the 18th 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 $1.6 to $1.7 billion of repurchases planned for Fiscal 2015. With our tremendous cash flow and excellent financial returns, we remain committed to returning cash to our shareholders while continuing to invest in the near- and long-term growth of TJX. All of this underscores our confidence in our ability to continue to deliver significant increases in sales, earnings, and cash flow, and generate superior financial returns.”
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 February 1, 2014, the end of the Company's fiscal year, the Company operated a total of 3,219 stores in six countries, the United States, Canada, United Kingdom, Ireland, Germany, and Poland, and three e-commerce sites. These include 1,079 T.J. Maxx, 942 Marshalls, 450 HomeGoods and 4 Sierra Trading Post stores, as well as tjmaxx.com and sierratradingpost.com in the United States; 227 Winners, 91 HomeSense, and 27 Marshalls stores in Canada; and 371 T.K. Maxx and 28 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.
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 expansion and management of large size and scale; customer trends and preferences; market, banner, geographic and category expansion; marketing, advertising and promotional programs; competition; personnel recruitment and retention and costs of labor; global economic conditions and consumer spending; data security; information systems and new technology; seasonal influences; adverse or unseasonable weather; serious disruptions and catastrophic events; corporate and 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; acquisitions, business investments and divestitures; 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.