- Prachi Singh |
Nike, Inc. has announced that its board of directors has approved a quarterly cash dividend of 245 cents per share on the company’s outstanding Class A and Class B Common Stock, which represents an increase of 11 percent versus the prior quarterly dividend rate of 22 cents per share. The company added that dividend declared is payable on January 2, 2020 to shareholders of record at the close of business December 2, 2019.
“Nike has consistently delivered strong cash flow and returns for shareholders and today’s announcement marks Nike’s 18th consecutive year of increasing dividend payouts,” said Mark Parker, Chairman, President and CEO of Nike in a statement, adding, “This dividend increase, combined with the four-year 15 billion dollars share repurchase program announced in 2018, reflects continued confidence in our strategies to generate long-term, profitable growth as we accelerate execution of our Consumer Direct Offense.”
Based near Beaverton, Oregon, Nike also owns subsidiary brands including Converse and Hurley.