0.31%QQQQ 43.45 
0.48%XLF 21.74 3.62%
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NEW YORK - Tiffany & Co. said it will surpass its earnings guidance in the first quarter and raised its quarterly dividend by 13 percent.
| TIF | 43 |  -0.5 |
The New York jewelry retailer said it will earn more than the 39 cents per share it earned last year due to a "promising start to the year." Previously, Tiffany expected profit to roughly equal year-ago results.
Analysts polled by Thomson Financial predicted a profit of 39 cents per share.
The company increased its quarterly dividend by 2 cents, or 13 percent, to 17 cents. The dividend is payable July 10 to shareholders of record as of June 20.
Tiffany shares rose $3.03, or 6.6 percent, to $48.88.
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