TJX increases common stock dividend by 13% to 33.25c 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 33.25c per share, payable June 1 to shareholders of record on May 11. 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 26th dividend increase over the last 27 years. Over this period, the company’s dividend has grown at a compound annual rate of 20%. In addition, we plan to continue our significant share buyback program, with approximately $2.0 to $2.5B 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."