Nike increases dividend
Portland Business Journal
Nike Inc. Friday announced its board has issued a 9 percent increase in its quarterly dividend. It’s the company’s seventh straight year of dividend increases.
The Beaverton-area footwear and apparel company (NYSE: NKE) declared a cash dividend of 25 cents per share on its outstanding Class A and Class B common stock. That’s an increase from its previous quarterly rate of 23 cents per share and another indication of how Nike has risen above the poor global economy. The dividend is payable on Jan. 5 to shareholders of record as of Dec. 8.
“We are pleased to increase our cash payout to shareholders for the seventh year in a row,” Nike CEO Mark Parker said in a news release. “This increase reflects our ongoing confidence in Nike’s long-term growth prospects, expanding cash flows and strong balance sheet.”
Nike shares were up 7 percent in mid-day trading to just under $47 per share. It has a 52-week high of $70.60.
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