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 26% from the last dividend paid. The Board declared a
regular quarterly dividend in the amount of $.145 per share, payable
June 6, 2013, to shareholders of record on May 16, 2013.
Carol Meyrowitz, Chief Executive Officer of The TJX Companies, Inc.,
stated, "I am pleased to report that our Board of Directors has approved
a 26% increase in our quarterly dividend, which marks the 17th
consecutive year of dividend increases. Over this period of time, the
Company's dividend has grown at a compound annual rate of 23%. In
addition to the dividend increase, we plan to continue our significant
share buyback program, with approximately $1.3 billion to $1.4 billion
of repurchases planned for Fiscal 2014. With our financial strength and
flexibility, we remain committed to returning cash to our shareholders
after reinvesting in our business to support the near- and long-term
growth of TJX. These actions underscore our confidence in our ability to
continue generating 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. The Company operates 1,036 T.J.
Maxx, 904 Marshalls, 416 HomeGoods and 4 Sierra Trading Post stores as
well as SierraTradingPost.com
in the United States; 222 Winners, 88 HomeSense, and 14 Marshalls stores
in Canada; and 348 T.K. Maxx and 24 HomeSense stores in Europe. TJX's
press releases and financial information are also available at www.tjx.com.
Important Information at Website
The Company's recorded messages and conference calls are available at www.tjx.com
after they are no longer available by telephone. The Company routinely
posts information that may be important to investors in the Investor
Information section at www.tjx.com.
The Company encourages investors to consult that section of its website
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: buying 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; global economic conditions and
consumer spending; data security; information systems and technology;
seasonal influences; adverse or unseasonable weather; serious
disruptions and catastrophic events; corporate and banner reputation;
merchandise quality and safety; international operations; merchandise
importing; commodity pricing; foreign currency exchange rates;
fluctuations in quarterly operating results; market expectations;
acquisitions and divestitures and the success of transitions; 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.
Senior Vice President