Coach Declares Quarterly Dividend
- April 23, 2009
- Dividend News, Dividend Stocks
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Coach (COH: 74.04 +1.13%) recently announced that they will begin paying a quarterly cash dividend.
The initial quarterly dividend payment will be $.075 per share, putting their current dividend yield at 1.3%.
Lew Frankfort, Chairman and Chief Executive Officer of Coach, Inc. said, “The announcement today of the initiation of a dividend reflects our financial strength and our confidence in Coach’s business outlook. With a business model that generates significant cash flow and with virtually no debt, we are in a position to take advantage of profitable growth opportunities, while continuing to return capital to shareholders.”
The dividend will be payable on June 29, 2009 to shareholders of record as of June 8, 2009.
The dividend announcement came as the luxury retailer reported third quarter net income fell 24% as the challenging economic environment has negatively impacted the company’s performance.
Coach’s shares have jumped 6% since the beginning of the year, despite the 10% drop in the Dow Jones index.
