* Quarterly dividend raised to 12 cents a share
* Operating cash flow cited as a reason
NEW YORK, April 7 Off-price retailer TJX Cos
Inc (TJX.N) raised its quarterly dividend by 9 percent to 12
cents a share on Tuesday.
Chief Executive Carol Meyrowitz said the move, which marks
the 13th consecutive year that TJX has raised its dividend, was
the result of "our substantial operating cash flows combined
with our strong balance sheet."
The dividend is payable on June 4 to shareholders of record
on May 14, the company said in a statement.
TJX, which operates the T.J. Maxx, Marshalls, A.J. Wright
and HomeGoods stores, buys fashion brands at below-wholesale
prices and sells them at up to 60 percent less than department
stores and specialty retailers.
Those prices have attracted shoppers to its stores, but
still some consumers have been careful about spending in recent
months due to the recession.
(Reporting by Aarthi Sivaraman; Editing Bernard Orr)