Jewelry distributor Tiffany and Co. (NYSE:TIF) this week announced plans to keep its dividend steady at $0.34 per share this quarter.

The company has paid its shareholders a quarterly dividend since June 1988, and has distributed this particular amount since last quarter, after boosting its payout 6.2% from $0.32 a share.

Tiffany will make its latest dividend payable on Oct. 10 for shareholders of record as of Sept. 20. The company's annualized payout comes to $1.36 per share. As of market close on Aug. 14, the company was trading at $81.60, which means Tiffany's current dividend yield is 1.67%.

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