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Tiffany & Co. Raises Dividend

May 23, 2010 4:08 AM   By Avi Krawitz
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RAPAPORT... Tiffany & Co. announced a 25 percent increase in its quarterly dividend ahead of its first quarter earnings report on Thursday. The luxury jewelry retailer declared a dividend of $0.25 per share, up from $0.20 per share previously.

“Following an 18 percent increase in the quarterly dividend rate earlier this year, this action again demonstrates the board's recognition of our strong balance sheet liquidity and their confidence in Tiffany's long-term earnings growth potential,” said Michael Kowalski, chairman and chief executive officer (CEO).

The company reported net sales fell 5 percent to $2.71 billion in fiscal 2008 and net earnings rose 14 percent to $265.7 million. Tiffany has forecasted a sales increase of 11 percent for 2010. It is scheduled to report its fiscal first quarter resuts on Thursday, May 27.
Tags: Avi Krawitz, Avi Krawitz, IDI, Jewelry, Tiffany
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