Not every retailer is cash-strapped thanks to the ongoing shift to digital shopping.
So far this earnings season, eight major retailers increased their quarterly dividends by shockingly high rates. Here are the names.
Editor's Pick originally published Feb. 24.
First up is TJ Maxx parent TJX Companies (TJX) , which hiked its quarterly dividend by 20% to 31.25 cents a share. The off-price apparel and home fashions retailer reported that its fourth quarter revenue rose 6% to $9.5 billion, way above Wall Street's estimations for $4.44 billion. TJX also increased its existing stock repurchase plan, of which $1.8 billion remains, approving an extra $1 billion.
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Home Depot (HD) increased its quarterly dividend by a whopping 29% to 89 cents a share in the fourth quarter. The home-improvement retailer also initiated a new $15 billion stock repurchase program after reporting that its same-store sales grew 6.2% in the U.S.
Kohl's (KSS) announced that it boosted its quarterly dividend by 10% to 55 cents a share, despite the retailer posting paltry fourth quarter results. While the company's revenue of $6.21 billion was roughly in line with Wall Street's expectations, it declined 2.8% from last year and its same-store sales fell 2.2% in the quarter.
Dunkin' Brands Group (DNKN) , parent of Dunkin' Donuts and Baskin-Robbins, raised its quarterly dividend by 7.5% to 32.25 cents a share. The company posted fourth quarter revenue of $215.7 million, a 5.8% rise from last year, and slightly higher than analysts' estimates of $215 million.
Domino's Pizza (DPZ) not only reported shockingly strong fourth quarter and full-year results, but it also raised its quarterly dividend 21.1% to 46 cents a share. The company's domestic same-store sales also rose 12.2% in the quarter and 10.5% for the year.
The electronics retailer hiked its dividend by a cool 21%.
Big Lots (BIG) didn't have a stellar fourth quarter, but it still nicely raised its dividend.