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Coach Lifts Its Dividend

By Eric Volkman - May 16, 2013 at 9:14PM

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The company boosts its shareholder distribution by 12.5%.

Investors will find a few more coins deposited into their Coach ( TPR -0.32% ) 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.

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