Tiffany & Co. Increases Dividend By 11%

Tiffany & Co. said Thursday that it has raised its quarterly dividend by 11% to 50 cents per share from 45 cents per share. The company has raised its dividend rate 16 times in the last 15 years, said Chief Executive Michael Kowalski in a statement. The dividend will be paid on July 10, 2017 to shareholders of record as of June 20, 2017. Tiffany shares are nearly flat in premarket trading, and up more than 33% over the past 12 months. The S&P 500 index has gained 15% for the last year.