Tapestry announces quarterly cash dividend

Tapestry, Inc’s board of directors has declared a quarterly cash dividend of 0.3375 dollar per common share. The company said, dividend is payable on April 2, 2018 to shareholders of record as of the close of business on March 9, 2018.

Tapestry expects revenues for fiscal 2018 to increase about 30 percent versus fiscal 2017, to 5.8 to 5.9 billion dollars, with low-single digit organic growth and the acquisition of Kate Spade adding over 1.2 billion dollars in revenue. The company has also projected earnings per diluted share in the range of 2.52 dollars-2.60 dollars, an increase of about 17 percent to 21 percent for the year, including mid-to-high single digit accretion from the acquisition of Kate Spade.

Picture:Tapestry website