Exhibit 99.1
TIFFANY & CO.
NEWS RELEASE
Fifth Avenue & 57th Street Contacts:
New York, N.Y. 10022 ---------
James N. Fernandez
(212)230-5315
Mark L. Aaron
(212)230-5301
TIFFANY RAISES QUARTERLY DIVIDEND BY 33%
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New York, N.Y., May 19, 2005 - Tiffany & Co. (NYSE: TIF) today reported that its
Board of Directors has declared a 33% increase in the quarterly dividend rate on
its Common Stock. This action increases the rate from six cents per share per
quarter to a new rate of eight cents per share per quarter. The dividend will be
paid on July 11, 2005 to stockholders of record on June 20, 2005.
This represents Tiffany's third consecutive year with a dividend increase.
Michael J. Kowalski, chairman and chief executive officer, announced the
increase at the Company's Annual Meeting of Shareholders. He said, "Tiffany is
in a strong financial position. The Board's action today demonstrates its
confidence in the future."
Company Description
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Tiffany & Co. (NYSE: TIF) operates jewelry and specialty retail stores and
manufactures products through its subsidiary corporations. Its principal
subsidiary is Tiffany and Company. The Company operates TIFFANY & CO. retail
stores and boutiques in the Americas, Asia-Pacific and Europe and engages in
direct selling through Internet, catalog and business gift operations. The
Company's Other operations include consolidated results from ventures operated
under trademarks or trade names other than TIFFANY & CO. For additional
information, please visit www.tiffany.com or call our shareholder information
line at 800-TIF-0110.
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