The Dynamic Dividend

TJX Announces Yet Another Double-Digit Dividend Hike

The TJX Companies, Inc. (TJX) announced plans for a 21% dividend hike this morning, which would mark the 16th consecutive year of substantial dividend growth from the off-price retailer.

The company behind T.J. Maxx and Marshall’s plans to declare a quarterly dividend of $0.115 per share, which would top the $0.095 per share it had paid each of the last four quarters. TJX has given its shareholders a double-digit raise every year since 1997, boosting its payout by more than 2,500% along the way.

Shares of TJX are currently trading at $34.54, where the planned dividend rate produces a 1.33% yield. The stock is up nearly 40% in the last year, including an 8% gain already in 2012.