Chief exec says latest action is 11th dividend increase in 10 years.
Luxury jewellery brand Tiffany & Co. yesterday announced to its board of directors that it would be increasing its quaterly share dividend by 10%.
The news will mean that Tiffany will be $0.32 (£0.20) per share, an increase of three cents on the company’s present quarterly dividend.
The brand’s chairman and chief executive Michael J. Kowalski announced the increase at the company’s AGM. He said: "This latest action marks the 11th dividend increase in the past 10 years."
The dividend will be paid on July 10, 2012 to stockholders of record on June 20, 2012.
The news comes at the same time that Robert Singer was elected to its board. Singer joins the eight current directors who were all re-elected.
Singer’s past roles have included chief financial officer of Gucci Group NV. He replaces J. Thomas Presby, who reached the board’s mandatory retirement age.