Tiffany & Co (TIF) will raise its quarterly dividend by 11.1 percent to $0.50 per share. The next dividend will be paid on July 10, 2017 to shareholders of record on June 20, 2017.

Michael J. Kowalski, Chairman and Interim Chief Executive Officer, announced the dividend increase at Tiffany’s Annual Meeting of Shareholders and noted, “Beyond reinvesting in our business, which is supported by a strong balance sheet, one of our key financial strategies is to return excess cash to shareholders. Tiffany has now increased the dividend rate 16 times in the past 15 years.”

Tiffany & Co. is a jeweler and specialty retailer. The company has four reportable segments: Americas, Asia-Pacific, Japan and Europe. Tiffany's principal product category is jewelry and also sells watches, home and accessories products and fragrances. Charles Lewis Tiffany founded Tiffany's business in 1837. He incorporated Tiffany in New York in 1868. Tiffany became a public company in May 1987 and has paid a dividend every year since 1988.