RTTNews | May 27, 2021 08:33AM EDT

08:32 Thursday, May 27, 2021 (RTTNews.com) - While reporting financial results for the first quarter of fiscal 2020 on Thursday, watchmaker Movado Group, Inc. (MOV) initiated net sales outlook for the full-year 2022, above estimates. The company also declared a dividend.

For fiscal 2022, the company now projects net sales between $650.0 million and $665.0 million. On average, analysts polled by Thomson Reuters expect the company to report revenues of $635.85 million for the year.

The company also announced that the Board of Directors approved the payment on June 23, 2021 of a cash dividend in the amount of $0.20 for each share of the Company's outstanding common stock and class A common stock held by shareholders of record as of the close of business on June 9, 2021.

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