LOS ANGELES, April 6 (Reuters) - Off-price U.S. retailer TJX Cos Inc (TJX.N) on Tuesday 6 April said it would raise its quarterly stock dividend by 25 percent to 15 cents per share.

Photo : Frederic J. Brown/AFP

TJX, which operates such chains as Marshall's and TJ Maxx, also plans to end 2010 with well over $1 billion in cash and to accelerate plans for new stores.

The company added that it continues to expect to repurchase between $900 million and $1 billion of TJX shares.

TJX and rivals like Ross Stores Inc (ROST.O) buy discounted apparel, accessories and home goods at from manufacturers. They then sell those items in stores at prices that are often below mainstream retail levels.

Shares in TXJ were up 48 cents, or 1.1 percent, to $44.83 in midday trading on the New York Stock Exchange. (Reporting by Lisa Baertlein, editing by Leslie Gevirtz)