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Tiffany increases quarterly dividend by 11%

Tiffany & Co.'s board on May 25 declared the increase of its quarterly common stock dividend to 50 cents from 45 cents, up by 11%.

The jewelry retailer will pay the dividend July 10 to shareholders of record June 20.

According to Michael Kowalski, Tiffany's chairman and interim CEO, the retailer has increased the dividend rate 16 times in the past 15 years.