The TJX Companies, Inc. Announces Board of Directors Approves 2-for-1 Stock Split and Declares Quarterly Common Stock Dividend
September 17 2018 - 1:00PM
Business Wire
The TJX Companies, Inc. (NYSE: TJX), the leading off-price
apparel and home fashions retailer in the U.S. and worldwide, today
announced that its Board of Directors has approved a 2-for-1 stock
split of the Company’s common stock by means of a stock dividend.
Implementation of the stock split is subject to approval by TJX
shareholders of an increase in the number of authorized shares of
the Company’s common stock from 1.2 billion shares to 1.8 billion
shares, and related Board approval. The increase will be voted on
at a special shareholders meeting that is anticipated to be held on
October 22, 2018, at which shareholders of record on September 27,
2018 would be entitled to vote. If approved, one additional share
of the Company’s common stock would be distributed on November 6,
2018 for each share held by shareholders of record on October 30,
2018.
The Company also announced the declaration of a quarterly
dividend on its common stock of $.39 per share, on a pre-stock
split basis, payable December 6, 2018, to shareholders of record on
November 15, 2018. If the stock split is effected before the
quarterly dividend payment, the quarterly dividend will be adjusted
accordingly to $.195 per share.
Ernie Herrman, Chief Executive Officer and President of The TJX
Companies, Inc., stated, “We are pleased to announce this 2-for-1
stock split in addition to our regular quarterly cash dividend. TJX
has a long and successful track record, and this stock split
underscores our great confidence in the continued success of our
Company.”
About The TJX Companies,
Inc.
The TJX Companies, Inc. is the leading off-price retailer of
apparel and home fashions in the U.S. and worldwide. As of August
4, 2018, the end of the Company’s second quarter, the Company
operated a total of 4,194 stores in nine countries, the United
States, Canada, the United Kingdom, Ireland, Germany, Poland,
Austria, the Netherlands, and Australia, and three e-commerce
sites. These include 1,236 T.J. Maxx, 1,077 Marshalls, 716
HomeGoods, 33 Sierra Trading Post, and 8 Homesense stores, as well
as tjmaxx.com and sierratradingpost.com in the United States; 270
Winners, 120 HomeSense, and 79 Marshalls stores in Canada; 552 T.K.
Maxx and 61 Homesense stores, as well as tkmaxx.com, in Europe; and
42 T.K. Maxx stores in Australia. TJX’s press releases and
financial information are available at tjx.com.
Important Information at
Website
The Company routinely posts information that may be important to
investors in the Investor Information section at www.tjx.com. The
Company encourages investors to consult that section of its website
regularly.
Forward-looking
Statement
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995: Various statements made in this release are
forward-looking and involve a number of risks and uncertainties.
All statements that address activities, events or developments that
we intend, expect or believe may occur in the future are
forward-looking statements, including statements about the stock
split, charter amendment, and special meeting of shareholders. The
following are some of the factors that could cause actual results
to differ materially from the forward-looking statements: execution
of buying strategy and inventory management; operational and
business expansion and management of large size and scale; customer
trends and preferences; various marketing efforts; competition;
personnel recruitment, training and retention; labor costs and
workforce challenges; data security; information systems and
implementation of new technologies; economic conditions and
consumer spending; adverse or unseasonable weather; serious
disruptions or catastrophic events; corporate and retail banner
reputation; quality, safety and other issues with our merchandise;
compliance with laws, regulations and orders and changes in laws,
regulations and applicable accounting standards; expanding
international operations; merchandise sourcing and transport;
commodity availability and pricing; fluctuations in currency
exchange rates; fluctuations in quarterly operating results and
market expectations; mergers, acquisitions, or business investments
and divestitures, closings or business consolidations; outcomes of
litigation, legal proceedings and other legal or regulatory
matters; tax matters; disproportionate impact of disruptions in the
second half of the fiscal year; real estate activities; inventory
or asset loss; cash flow and other factors that may be described in
our filings with the Securities and Exchange Commission. We do not
undertake to publicly update or revise our forward-looking
statements even if experience or future changes make it clear that
any projected results expressed or implied in such statements will
not be realized.
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The TJX Companies, Inc.Debra McConnellGlobal Communications(508)
390-2323
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