Investors will find a few more coins deposited into their Coach (NYSE:TPR) handbags this summer. The company has declared a quarterly dividend of $0.3375 per share of its common stock. This will be paid on July 1 to shareholders of record as of June 7. That amount is 12.5% higher than the apparel maker's previous dividend of $0.30, which was handed out at the beginning of April.
Coach has been a reliable and steady dividend payer since launching distributions in mid-2009. It tends to raise that payout once every year.
The new dividend annualizes to $1.35 per share. That yields 2.3% at Coach's most recent closing stock price of $58.38.