TJX announces 2-for-1 stock split
Photo | Grant Welker
TJX is headquartered in Framingham.
Framingham off-price retailer TJX is looking for shareholder approval of a 2-for-1 stock split via a stock dividend.
The transaction, approved by the board of directors Monday, is subject to approval of shareholders next month. The move would increase the authorized shares of the company’s common stock from 1.2 billion to 1.8 billion shares.
If approved, one additional share of TJX’s common stock would be distributed in November for each share held by shareholders as of Oct. 30.
Subsequently, the company has declared a quarterly dividend on its common stock of $.39 per share, on a pre-stock split basis, payable Dec. 6 to shareholders of record on Nov. 15.
If the stock split is effected before the quarterly dividend is paid, the dividend will be adjusted accordingly to $.195 per share.
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