TJX Companies (TJX) will reinstate its quarterly dividend with a $0.26 per share quarterly dividend in Q1 of 2021. Earlier this year TJX suspended its quarterly dividend because of the COVID-19 pandemic. The suspension ended 24 consecutive years of dividend increases by TJX.

In a press release dated December 8, 2020, the company states: The TJX Companies, Inc. (NYSE:TJX) today announced the declaration of a quarterly dividend on its common stock of $.26 per share payable March 4, 2021, to shareholders of record on February 11, 2021. This represents a 13% increase in the per share dividend compared to the Company’s previous dividend paid in March 2020.

TJX is one of many retailers announcing the suspension of its dividend this year because of the coronavirus. Off-price retail peer Ross Stores, a Dividend Aristocrat, also announced that it will suspend its dividend.

For TJX shareholders the dividend suspension means that a record of 24 consecutive years of dividend hikes will end. Including the 13.0 percent increase that was announced earlier this year by the company TJX had hiked its dividend by double digits for no less than 11 consecutive years.

The TJX Companies, Inc. is an off-price retailer of apparel and home fashions. As of May 2, 2020, the end of the Company’s first quarter, the Company operated a total of 4,545 stores in nine countries, the United States, Canada, the United Kingdom, Ireland, Germany, Poland, Austria, the Netherlands, and Australia, and four e-commerce sites.