Tapestry, Inc. (NYSE:TPR) to Issue Dividend Increase - $0.40 Per Share

Key Points

• Tapestry, Inc. has announced a quarterly dividend increase to $0.40 per share, marking a 14.3% rise from the previous dividend of $0.35.
• Investors of record by September 5th will receive the dividend payment on September 22nd, with the annualized dividend yielding 1.4%.
• The company reported a $1.04 EPS for its latest quarter, exceeding expectations and demonstrating significant growth compared to $0.92 EPS amassed during the same period last year.

Tapestry, Inc. (NYSE:TPR - Get Free Report) announced a quarterly dividend on Thursday, August 14th, RTT News reports. Investors of record on Friday, September 5th will be paid a dividend of 0.40 per share by the luxury accessories retailer on Monday, September 22nd. This represents a c) annualized dividend and a dividend yield of 1.4%. This is a 14.3% increase from Tapestry's previous quarterly dividend of $0.35.

Tapestry has a payout ratio of 26.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Tapestry to earn $5.30 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 26.4%.

Tapestry Stock Up 2.5%

Shares of TPR opened at $113.65 on Thursday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.22 and a current ratio of 1.76. Tapestry has a one year low of $37.79 and a one year high of $114.05. The stock has a market capitalization of $23.60 billion, a price-to-earnings ratio of 29.91, a PEG ratio of 2.23 and a beta of 1.51. The stock has a 50 day moving average price of $96.10 and a 200 day moving average price of $82.33.

Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 EPS for the quarter, topping the consensus estimate of $1.00 by $0.04. Tapestry had a return on equity of 51.84% and a net margin of 12.50%. During the same quarter in the previous year, the business earned $0.92 earnings per share. Equities research analysts forecast that Tapestry will post 4.91 earnings per share for the current fiscal year.

Tapestry Company Profile

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women's handbags; and women's accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.

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