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TJX Cos. boosts quarterly dividend to 14.5 cents

FRAMINGHAM, Mass. (AP) -- The parent company of TJ Maxx and Marshalls clothing stores said Tuesday that its board boosted its quarterly dividend by 26 percent to 14.5 cents.

TJX Cos., which also runs HomeGoods and some other stores, said the dividend will be paid on June 6 to shareholders of record as of May 16.

CEO Carol Meyrowitz said that in addition to the dividend increase, TJX plans to continue its stock buyback program, with about $1.3 billion to $1.4 billion of share repurchases planned for fiscal 2014.

Shares of Framingham, Mass.-based TJX rose 42 cents to $47.32 in afternoon trading after rising as high as $47.44 earlier in the session, the latest new all-time high in recent weeks.