NEW YORK (TheStreet) -- TJX Cos. (TJX) - Get Report stock closed higher by 1.11% to $78.62 on Tuesday after the retailer's board increased its regular quarterly dividend 24% to 26 cents per share, compared with the previous quarterly dividend of 21 cents per share.
The dividend is payable on June 2 to shareholders of record on May 12.
"This marks our 20th consecutive year of dividend increases," CEO Ernie Herrman said in a statement. "Over these two decades, the company's dividend has grown at a compound annual rate of 23%."
The company is on schedule with its stock buyback program that includes repurchasing $1.5 billion to $2 billion in shares during its 2017 fiscal year.
Framingham, MA-based TJX operates about 3,614 stores and three e-commerce sites under several brands, including T.J. Maxx, Marshalls and HomeGoods.
Separately, TJX has a "buy" rating and a letter grade of A+ at TheStreet Ratings because of the company's revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, good cash flow from operations and solid stock price performance.
You can view the full analysis from the report here: TJX
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.