TJX board increases dividend 13% to 37.5c per share

The TJX Companies announced that 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 37.5c per share, payable June 6, 2024, to shareholders of record on May 16, 2024. Ernie Herrman, CEO and President of The TJX Companies, stated, “I am pleased to announce that our board of directors has approved a 13% increase in our quarterly dividend. This marks our 27th dividend increase over the last 28 years. Over this period, TJX’s dividend has grown at a compound annual rate of 20%. In addition, we plan to continue our significant share buyback program, with approximately $2B-$2.5B of repurchases planned for Fiscal 2025. These actions underscore our confidence in our ability to continue to drive sales, increase profitability, and deliver strong cash flow, allowing us to simultaneously reinvest in the growth of the business and return significant value to our shareholders.”