Tiffany & Co Standard Quarterly Dividend Reflects Optimism For The Future
Online, November 25, 2011 (Newswire.com) - Amidst some concerns and pessimism that discretionary consumer spending in branded jewellery and other such items might slow down, the news of Tiffany & Co declaring its standard quarterly dividend of $0.29 per share is very encouraging. This dividend payout will happen on the 10th of January to the holders of the stock as on the 20th of December 2011.
This dividend declaration coming as it does after Tiffany made its intentions clear of opening two retail outlets - one at SoHo and Prague has been welcomed by the industry. It reflects guarded optimism for the future about consumer demand for its various products like Tiffany engagement rings, Tiffany bracelets, silver and diamond rings and so on.
Its decision to go to Prague marks its first foray into the Eastern Europe market. According to Melvyn Kirtley, the Vice President for the Group in Europe, it indicates a strategic move by the brand to get into more markets within Europe. "We wish to offer our full range of Tiffany jewellery to consumers in this culturally rich city and are confident that we would be able to complement that with excellent customer service. Our customers have high expectations from us and we will surely live up to them," he said.
The 240 square meter retail outlet has all the typical elements of a Tiffany store, borrowing heavily as it does from the flagship outlet design at New York. The famous Tiffany blue color and the subtle wheat leaf as well as floral patterns would be incorporated into the custom furnishings. The store would be open to the public in the summer of 2012 and is located at 10 PařÞská Street.
Tiffany & Co would be displaying its latest range of Tiffany jewelry specialties like diamonds set in platinum, 18 karat gold and silver Tiffany rings and accessories like fragrances as well as crystal. This store would not be as large as the one they have planned to open at New York's SoHo though. That outlet would occupy about 7000 square feet and is scheduled to open in September 2012.
About Tiffany
Tiffany & Co which operates mainly through subsidiaries is the holding company is in the business of operating retail and boutique outlets for jewellery. It also has other items like china, time pieces, stationery, fragrances and crystal that it displays and sells through these outlets. Tiffany & Co also designs and manufactures jewellery items.