TJX (NYSE:TJX) is spending more money to reward shareholders. The company has lifted its dividend to $0.145 per share of its common stock, which will be paid on June 6 to shareholders of record as of May 16. That's 26% higher than the previous payout of $0.115, which was handed out in each of the past four quarters.

TJX is a habitual dividend payer and typically adjusts its disbursement once every year. In the press release announcing the latest distribution, the company pointed out that it has now raised the amount in 17 consecutive years.

The new dividend annualizes to $0.58 per share. That yields 1.2% at TJX's current stock price of $47.36.

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