TJX Companies Board Okays 2-for-1 Stock Split

(RTTNews) - The TJX Companies, Inc. (TJX) said that its board has approved a 2-for-1 stock split of the Company's common stock by means of a stock dividend. Implementation of the stock split is subject to approval by TJX shareholders of an increase in the number of authorized shares of the Company's common stock from 1.2 billion shares to 1.8 billion shares, and related Board approval. The increase will be voted on at a special shareholders meeting that is anticipated to be held on October 22, 2018, at which shareholders of record on September 27, 2018 would be entitled to vote.

If approved, one additional share of the Company's common stock would be distributed on November 6, 2018 for each share held by shareholders of record on October 30, 2018.

The company also announced the declaration of a quarterly dividend on its common stock of $0.39 per share, on a pre-stock split basis, payable December 6, 2018, to shareholders of record on November 15, 2018. If the stock split is effected before the quarterly dividend payment, the quarterly dividend will be adjusted accordingly to $0.195 per share.