The TJX Cos. Inc. announced that its Board of Directors had reinstated its share repurchase program.
The company plans to repurchase approximately $1.0 billion to $1.25 billion of TJX stock during the fiscal year ending January 29, 2022 and currently has approximately $3.0 billion remaining under its existing stock repurchase programs.
TJX also announced the declaration of a quarterly dividend on its common stock of 26 cents per share payable September 2, 2021, to shareholders of record on August 12, 2021. Further, as of today, the company continues to see second-quarter overall open-only comp-store sales trends similar to the first quarter.
Ernie Herrman, CEO and president, The TJX Companies, Inc., said, “We are pleased to announce the reinstatement of our significant share repurchase program together with the declaration of our quarterly dividend. We are also pleased to see continued momentum in our business as second-quarter overall open-only comp-store sales trends remain similar to the first quarter. Throughout the global pandemic, we have remained focused on ensuring the financial stability of the company in order to emerge from the health crisis in a position of strength for our Associates, customers, shareholders, and other business associates. The actions we announced today demonstrate our confidence in our business and our outlook for successful growth over the long term. We see many opportunities to capture additional market share in the future, and with our very strong balance sheet and ability to generate cash flow, we are very pleased to again be in a position of significantly investing in our business and returning substantial cash to our shareholders.”
Photo courtesy TJX Cos.
