Tapestry hikes dividend by 16.7% to $0.35 quarterly per share

Tapestry, Inc. (TPR), the owner of luxury accessories and lifestyle brands, will raise its dividend by 16.7% to a new record high of 35 cents quarterly per share. The dividend yield for Tapestry is 4.0% based on the annual payment of $1.40 per share and a stock price of $35.55.

The next TPR dividend is payable on September 25, 2023 to shareholders of record as of the close of business on September 8, 2023. This week Tapestry announced a deal to buy Michael Kors parent Capri for $8.5 billion.

Tapestry, Inc. is a New York-based house of modern luxury lifestyle brands. The company’s portfolio includes Coach, Kate Spade and Stuart Weitzman. Effective October 31, 2017, the company changed its name from Coach, Inc. to Tapestry, Inc. The company went public in October 2000 under the Coach, Inc. name. The company was originally  founded in 1941.