Discount apparel and home goods retailer The TJX Companies, Inc.
) on Wednesday matched analyst estimates for the 4th quarter,
provided in-line guidance and boosted its dividend payout
The Framingham, MA-based company reported fourth quarter net
income of $475.31 million, or 62 cents per share, compared with
$334.41 million, or 42 cents per share, in the year-ago period.
Revenue rose 6% from last year to $6.71 billion.
Looking ahead, TJX forecast fiscal 2013 full-year earnings of
$2.21 to $2.31 per share, while analysts expect $2.27 per share for
In a separate announcement, TJX's board said it approved a 21%
increase to its quarterly dividend payout. The new dividend of 11.5
cents per share (up from 9.5 cents) will be officially announced in
April and paid in May.
TJX shares were mostly flat in premarket trading Wednesday.
The Bottom Line
Shares of TJX Companies (
) will now have a 1.31% dividend yield, based on the higher
dividend payout and last night's closing stock price of $35.22. The
stock has technical support in the $32 price area. The shares are
trading at all-time highs.
The TJX Companies, Inc. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
Be sure to visit our complete recommended list of the
Best Dividend Stocks
, as well as a detailed explanation of
our ratings system here