Ralph Lauren Doubles Dividend as Q4 Earnings Beat View (RL)

By Dividend.com Staff,

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Apparel maker Ralph Lauren Corp ( RL ) posted better-than-expected fourth quarter earnings and doubled its quarterly dividend payout on Tuesday.

The New York-based company reported fourth quarter net income of $94.4 million, or 99 cents per share, compared with $73.2 million, or 74 cents per share, in the year-ago period.

Revenue rose 13.7% from last year to $1.62 billion.

On average, Wall Street analysts expected a much smaller profit of 85 cents per share, on slightly lower revenue of $1.6 billion.

In a separate announcement, RL's board of directors approved a 100% raise to its quarterly dividend payout. The new dividend of 40 cents per share (up from 20 cents), will be paid on July 13 to shareholders of record as of June 29.

Ralph Lauren shares fell $1.80, or -1.2%, in premarket trading Tuesday.

The Bottom Line
Shares of Ralph Lauren [[RL] will now have a 1.08% dividend yield, based on the higher dividend payout and last night's closing stock price of $146.30. The stock has technical support in the $130-$140 price area. If the shares can firm up, we see overhead resistance around the $150-$160 price levels.

Ralph Lauren Corp ( RL ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Created by Dividend.com

This article appears in: Investing Stocks
Referenced Stocks: RL

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