TJX Companies approves 20 percent increase in quarterly dividend

The TJX Companies’ Board of Directors has approved a 20 percent raise in its quarterly dividend from the last dividend paid. The Board declared a regular quarterly dividend in the amount of 0.3125 dollar per share, payable June 1, 2017, to shareholders of record on May 11, 2017.

Commenting on the increase in dividend, Ernie Herrman, CEO and President of The TJX Companies, stated in a media statement, "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 percent. In addition, we plan to continue our share buyback program, with approximately 1.3 to 1.8 billion dollars of repurchases planned for fiscal 2018."

During its annual results announcement in February, the company had proposed a 20 percent increase in the regular quarterly dividend on its common stock.

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