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Published
Apr 7, 2009
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TJX raises quarterly dividend by 9 percent

By
Reuters
Published
Apr 7, 2009

NEW YORK, April 7 (Reuters) - Off-price retailer TJX Cos Inc (TJX.N) raised its quarterly dividend by 9 percent to 12 cents a share on Tuesday 7 April.


TJ Maxx of TJX Cos Ltd, Spring 2009

Chief Executive Carol Meyrowitz said the move, which marks the 13th consecutive year that TJX has raised its dividend, was the result of "our substantial operating cash flows combined with our strong balance sheet."

The dividend is payable on June 4 to shareholders of record on May 14, the company said in a statement.

TJX, which operates the T.J. Maxx, Marshalls, A.J. Wright and HomeGoods stores, buys fashion brands at below-wholesale prices and sells them at up to 60 percent less than department stores and specialty retailers.

Those prices have attracted shoppers to its stores, but still some consumers have been careful about spending in recent months due to the recession.

(Reporting by Aarthi Sivaraman; Editing Bernard Orr)

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