16th Consecutive Annual TJX Dividend Increase
The TJX Companies announced today that they will offer investors a dividend increase for the 16th consecutive year.
This year the TJX dividend increase will be 21 percent. That pushes the stock’s dividend yield to 1.2 percent based on today’s closing price.
The increased dividend of $.115 per share will be payable on May 31, 2012 to shareholders of record as of May 10, 2012.
TJX CEO Carol Meyrowitz commented on the announcement, “Our flexible business model enables us to generate tremendous cash flow, which allows us to fund these shareholder distributions while also investing for future growth. These actions, in addition to the two-for-one stock split earlier this year, reflect our confidence in our ability to continue to drive significant increases in sales, earnings and cash flow, and deliver superior financial returns.”
In addition, TJX also announced that they expect to repurchase $1.2 – 1.3 billion in stock this year.
The discount retailer has been a terrific holding for investors this year. Already the stock has announced a 2:1 split and increased their dividend by 21 percent. Most importantly, the stock is up 23 percent since the beginning of 2012.