Luxury watch maker Movado Group Inc. said Thursday it is raising its quarterly dividend by 18% to 13 cents a share. The new payment will be made April 26 to shareholders of record as of April 12. The company is also planning to buy back up to $50 million of its shares, replacing a $100 million buyback authorization that expired on Jan. 31. Shares were down 3.6% premarket, but have gained 18% in the year so far, while the S&P 500 has gained just 1%.
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