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23rd May: TJX Companies, Inc. suspended its dividend. Their lower spending will hurt their own landlords etc. TJX (NYSE: TJX ), the discount retail store chain, took decisive action on March 19 to save its liquidity… Viad (VVI) - Suspends dividend Strattec Security (STRT) - Suspends dividend Invacare (IVC) - Suspends dividend National Oilwell Varco (NOV) - Suspends dividend TJX (TJX) - Suspends dividend Abercrombie & Fitch (ANF) - Suspends dividend Great Ajax Corp. (AJX) - Cuts dividend 46% Anworth Mortgage (ANH) - Cuts dividend 44% Management made several statements as well, citing their desire to reinstate the dividend as soon as possible. It's likely they're a patient bunch, however, since TJX Companies suspended its payout fairly early on in the coronavirus pandemic. May 22, 2020. The landlords, such as many REITs out there will have to work with tenants on concessions. The last press release discussing the dividend was from March 19th, where the company discussed canceling its buyback, closing stores around the world, reducing capital expenditures and drawing down on its revolving credit facilities. The fact that the dividend was not suspended, or cut was probably a result of TJX almost being a Dividend Aristocrat. TJX Companies declared a quarterly dividend of $0.26 per share, reflecting a 13% increase from the previous dividend paid in March 2020. 29th June: Simon Property Group, Inc. cut its dividend by 38% (. My DivGro portfolio suffered several pandemic-related dividend cuts and suspensions: 5th May: The Walt Disney Company announced it would forgo its H1 dividend. TJX Cos.(NYSE:TJX): The markets are headed for a down week, in spite of positive news on the vaccine front. Meanwhile, Ross Stores suspended its quarterly dividend payment. None of the investors and sites I follow even mentioned that dividend suspension. This represents a 13% increase over the company's last disbursement, which was handed out all the way back in March. TJX declared this suspension in March, around the time it also halted its share buyback initiative. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Goodyear Tire suspends its dividend Carlos Barria.Reuters. Should you keep your shares or not? This just goes to show you that things are moving very quickly, which is why it is difficult to evaluate the fundamentals right now. I am a long-term dividend growth investor. The economy is expected to receive a boost from from the population getting vaccinated, but in the meantime, consider retailers such as TJX Companies, Inc. (TJX), in anticipation of a strong holiday quarter. Unless your investments are FDIC insured, they may decline in value. April was particularly bad month as the number of dividend cuts and suspensions was one of the worst on record. Meanwhile, the retailer TJX (TJX) said in its most recent 10K filing late last month that it didn’t intend to declare a dividend for its fiscal first quarter of 2021, which ends April 30. TJX has paid uninterrupted dividends for 23 years in a row. Some tenants may not be able to survive, so there won't be much left in bankruptcy court. The reinstatement and raise, then, can be seen as a show of confidence that the economic landscape has improved that much for the company, even if the pandemic continues to rage. He managed portfolios for a small group of clients over a period of several decades. ... TJX Companies looks like an interesting play in the off-price retail business. It appears that TJX Companies (TJX) suspended their dividend payment. It states the following: Getty Images. I do believe the company will survive, and I will take another look when they determine what their dividend policy is. See you at the top! This is not a complete list as we wanted to provide additional comments on most companies listed below. Cumulative Growth of a $10,000 Investment in Stock Advisor, TJX Companies Reinstates Dividend, Raises It by 13%; Yield Is 2.7% @themotleyfool #stocks $TJX, TJX Stock Hits All-Time High After Big Earnings Beat, TJX Companies Is Ready to Restart Its Dividend, Got $500? It's likely they're a patient bunch, however, since TJX Companies suspended its payout fairly early on in the coronavirus pandemic. 4 Top Stock Trades for Friday: NVDA, LULU, TJX, AZN. I review the list of dividend increases every week, as part of my review process. The payment date on the new dividend will be next March 4, to stockholders of record as of Feb. 11, and at the most recent closing stock price it would yield 2.7%. The annual report was filed on Friday, March 27th. I am a big fan of Warren Buffett and Charlie Munger. InvestorPlace 208d. Stock Advisor launched in February of 2002. 20th May: Ross Stores, Inc. suspended its dividend. This site is for entertainment and educational use only - any opinion expressed on the site here and elsewhere on the internet is not a form of investment advice provided to you. At the onset of the pandemic, TJX suspended its dividend to preserve capital. TJX Companies suspended both its dividend and its stock buyback spending in response, but losses still amounted to $0.20 per share through the first nine months of … Royal Dutch Shell Cuts Dividends For The First Tim... Crown Castle (CCI) - A Dependable REIT for Income. This is the answer we will give you according to our dividend growth investing model. In any case, the evaluation period was short. December 09, 2020. This was not unusual for a big retailer, as the sector as a whole had come under severe strain due to the lockdowns and business closures frequently mandated by authorities in the face of the outbreak. It's clearly looking forward to a robust holiday shopping season, perhaps encouraged by the strong online sales retailers experienced on Black Friday. The TJX Companies, Inc. Reports Above-Guidance Q4 and FY20 Results; Q4 Comp Sales Up 6%, Q4 EPS of $.81, FY20 Comp Sales Up 4%, and FY20 EPS of $2.67; Announces Plans to Increase Dividend 13% and to Buy Back $1.75 to $2.25 Billion of Stock TJX suspends dividend. On March 27, 2020 TJX filed its annual report or ‘Form 10-K’ with the SEC and indicated that they would not pay the dividend. I am a long term buy and hold investor who focuses on dividend growth stocks. Perhaps TJX Companies was hoping that noone would notice - after all, few people actually bother to read annual reports these days. Overall, we remain optimistic about TJX's long-term outlook. Market data powered by FactSet and Web Financial Group. It is always great to see c... Fortis Inc. (FTS) operates as an electric and gas utility company in Canada, the United States, and the Caribbean countries. Obviously, many retail and restaurant employees are out of work, and out of a paycheck. Action: Dividend suspension. The company announced a 13% hike to 26 cents/share, payable in June 2020. Out of the Nasdaq US Dividend Achievers Select's 182 constituents, only TJX Companies suspended its dividend, while Rollins and 1st Source cut their dividends … A fter dozens of companies suspended or cut their dividends in recent weeks amid the coronavirus-driven business slowdown, some analysts believe dozens more are vulnerable across a variety of sectors. BRIEF-The TJX Suspends Share Repurchase Program, Withdraws Financial Guidance. 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