Increase in Shareholder DistributionsThe Company also announced today its plan to repurchase approximately $1.3 billion to $1.4 billion of TJX stock during the fiscal year ending February 1, 2014. With $925 million remaining at Fiscal 2013 year end under the Company’s existing stock repurchase program, the Company’s Board of Directors approved a new stock repurchase program that authorizes the repurchase of up to an additional $1.5 billion of TJX common stock from time to time. The new authorization represents approximately 5% of the Company’s outstanding shares at current prices. The new stock repurchase program marks the 14 th program approved by the Board since 1997. Over this period, the Company has spent approximately $11.3 billion on the repurchase of TJX stock. In Fiscal 2013, the Company spent a total of $1.3 billion to repurchase TJX stock, retiring 30.6 million shares. During the fourth quarter, the Company spent a total of $350 million to repurchase TJX stock, retiring 8.1 million shares. Under the Company’s repurchase plans, share repurchases may be made from time to time in market or private transactions and may include derivative transactions. The repurchase program announced today has no time limit and may be suspended or discontinued at any time.
The TJX Companies, Inc. Reports 28% Adjusted EPS Growth On $25.9 Billion In Sales In Fiscal 2013; Announces New $1.5 Billion Stock Repurchase Program; Plans 26% Increase In Dividend
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