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Tiffany announces 25% increase in quarterly dividend

18 May '06

1 min read

Jewelry retailer Tiffany & Co reported that its Board of Directors has declared a 25 percent increase in the quarterly dividend rate on its common stock.

This action increases the rate from $0.08 per share per quarter to a new rate of $0.10 per share per quarter, or $0.40 per share on an annualized basis. The dividend will be paid on July 10th 2006 to stockholders of record on June 20th 2006.

Michael Kowalski, Chairman and CEO, announced the increase at the company's Annual Meeting of Stockholders. He said, "This increase reflects Tiffany's strong financial position and the Board's confidence in our growth potential. It marks the fourth consecutive year of dividend increases, and means that the rate has more than doubled during that period."

Tiffany & Co operates jewelry and specialty retail stores and manufactures products through its subsidiary corporations. Its principal subsidiary is Tiffany and Company.

The company operates TIFFANY & CO retail stores and boutiques in the Americas, Asia-Pacific and Europe and engages in direct selling through Internet, catalog and business gift operations.

Tiffany & Co

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