FRAMINGHAM, Mass. (AP) — The operator of T.J. Maxx, Marshalls and HomeGoods is raising its quarterly dividend by 21 percent.
The TJX Companies Inc. said Tuesday that its new dividend of 17.5 cents per share is payable June 5, to shareholders of record on May 15. That is up from its most recent dividend of 14.5 cents. This is the 18th consecutive year the company has raised its dividend.
TJX said it plans to continue its share buyback program, with approximately $1.6 billion to $1.7 billion of repurchases planned for its 2015 fiscal year.
The company, based in Framingham, Mass., operates 3,219 stores in six countries and three e-commerce sites.
Shares increased 53 cents to $61.181 by late afternoon Tuesday, in line with broader market gains.