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TJX board authorizes additional $1.5B stock repurchase program.

The Company announced its plan to repurchase approximately $1.75B to $2.25B of TJX stock during the fiscal year ending February 1, 2020. With $1.7B remaining at Fiscal 2019 year end under the Company's stock repurchase programs, the Company's Board of Directors approved a new stock repurchase program that authorizes the repurchase of up to an additional $1.5B of TJX common stock from time to time. The new authorization represents approximately 2% of the Company's outstanding shares at current prices. The new stock repurchase program marks the 20th program approved by the Board since 1997. Over this period, the Company has spent approximately $22.1B on the repurchase of TJX stock. During the fourth quarter, the Company spent a total of $855M to repurchase TJX stock, retiring 17.8 million shares. In Fiscal 2019, the Company spent a total of $2.5B to repurchase TJX stock, retiring 51.8 million shares. Under the Company's repurchase plans, share repurchases may be made from time to time in market or private transactions and may include derivative transactions. The repurchase program announced today has no time limit and may be suspended or discontinued at any time.

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Publication:The Fly
Date:Feb 27, 2019
Words:196
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