Tiffany Boosts Quarterly Dividend 12%

(RTTNews) - Tiffany & Co. (TIF) on Thursday declared a regular quarterly dividend of $0.38 per share, reflecting a 12% increase from the previous quarterly dividend rate of $0.34 per share.

The dividend will be paid on July 10 to stockholders of record on June 20.

Michael Kowalski, Tiffany's chairman and chief executive officer, said, "Our strategic framework continues to successfully drive sales and earnings growth through the creation of inspiring jewelry and accessories, a highly developed supply chain, dynamic marketing communications, an expanding global store base and wonderful shopping experiences. Just yesterday, we were pleased to report strong sales and earnings growth and healthy cash flow for our first quarter. This represents the 13th dividend increase in the past 12 years."