(TIF) Tiffany & Company Increases Quarterly Dividend by 25%

May 23rd, 2010

Tiffany & Company (TIF), the designer, manufacturer and retailer of fine jewelry, recently boosted its quarterly dividend by 25%. The Board has approved an increase in annual dividend to $1.00 (or 25 cents quarterly) from 80 cents a share (or 20 cents quarterly). The dividend will be paid on July 12, 2010 to stockholders of record as on June 21, 2010.

This is the second time; Tiffany enhanced its dividend payment in 2010. Earlier in January, the company boosted its quarterly dividend by 17.6%.

New York-based Tiffany holds a significant position in the world jewelry market due to its distinctive brand appeal and is poised to benefit from its increased geographic reach.

The jewelry market was hit hard by the recent global melt-down, which triggered a shift in focus to cheaper private label brands, but as the recession eased demand for luxury items improved. Tiffany is well-positioned to deliver robust sales and earnings growth.

Tiffany had predicted sales to rise by 11% in fiscal 2010 during its fourth-quarter earnings release. The company had also forecasted fiscal 2010 earnings in the range of $2.45 to $2.50 per share, which remains in line with the current Zacks Consensus Estimate of $2.50.

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(TIF) Tiffany & Company Increases Quarterly Dividend by 25%

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(TIF) Tiffany & Company Increases Quarterly Dividend by 25%

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