The TJX Companies, Inc. Announces 20% Increase in Common Stock Dividend
FRAMINGHAM, Mass.–(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 $.3125 per share, payable
June 1, 2017, to shareholders of record on May 11, 2017.
Ernie Herrman, Chief Executive Officer and President 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. This
marks our 21st consecutive year of dividend increases. Over
this period, 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 $1.3 to $1.8 billion of repurchases planned
for Fiscal 2018. With our tremendous cash flow and financial strength,
we remain committed to returning cash to shareholders while
simultaneously reinvesting in the business to support our growth goals.
These actions underscore our confidence in our ability to continue to
deliver strong, profitable sales 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 January 28, 2017, the end
of the Company’s fiscal year, the Company operated a total of 3,812
stores in nine countries, the United States, Canada, the United Kingdom,
Ireland, Germany, Poland, Austria, the Netherlands, and Australia, and
three e-commerce sites. These include 1,186 T.J. Maxx, 1,035 Marshalls,
579 HomeGoods and 12 Sierra Trading Post stores, as well as tjmaxx.com
and sierratradingpost.com
in the United States; 255 Winners, 106 HomeSense, and 57 Marshalls
stores in Canada; 503 T.K. Maxx and 44 HomeSense stores, as well as tkmaxx.com,
in Europe; and 35 Trade Secret stores in Australia. 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; consumer trends and preferences; various
marketing efforts; competition; quality and availability of personnel;
labor costs and workforce challenges; data security; information systems
and new technology; economic conditions and consumer spending; adverse
or unseasonable weather; disruptions in the second half of the fiscal
year; serious disruptions or catastrophic events; corporate and retail
banner reputation; quality, safety and other issues with merchandise;
compliance with laws, regulations and orders and changes in laws,
regulations and applicable accounting principles and interpretations;
expanding international operations; sourcing and moving merchandise
internationally; commodity availability and pricing or increases in
utility, transportation or logistics costs; fluctuations in currency
exchange rates; fluctuations in quarterly operating results and market
expectations; mergers, acquisitions, or business investments and
divestitures, closings or business consolidations; outcomes of
litigation, legal proceedings and other legal or regulatory matters; 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.
Contacts
The TJX Companies, Inc.
Media:
Doreen Thompson
(508)
390-2323
or
Investors:
Jeff Botte
(508) 390-2323
