Sierra Trading Post parent The TJX Companies Inc. raised the amount of its quarterly dividend by 20 percent from the last dividend paid. The off-price retailer said its board of directors declared a regular quarterly dividend of 21 cents per share, payable June 4, 2015, to shareholders of record on May 14.
The announcement marks the 19th consecutive year TJX has raised the dividend, noted Carol Meyrowitz, Chief Executive Officer of The TJX Companies, Inc.
“Over this period of time, 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 $1.8 to $1.9 billion of repurchases planned for Fiscal 2016. With our financial strength and strong cash flow, we remain committed to returning cash to shareholders while simultaneously investing in our business to support the near- and long-term growth of TJX. These actions underscore our confidence in our ability to continue to generate superior financial returns and to deliver significant increases in sales, earnings, and cash flow.”
As of Jan. 31, 2015, The TJX Companies operated a total of 3,395 stores in six countries, the United States, Canada, the United Kingdom, Ireland, Germany, and Poland, and three e-commerce sites, including six Sierra Trading Post stores sierratradingpost.com in the United States. The company has opened four Sierra Trading Post stores since acquiring the company in December, 2012 for $200 million and plans to open two more in the Northeast in 2015 and 2016.
