Nike Boosts Dividend to 18 Cents From 16 Cents
November 17 2016 - 5:41PM
Dow Jones News
By Josh Beckerman
Nike Inc. boosted its quarterly dividend to 18 cents from 16
cents, marking its 15th consecutive year of higher payouts.
The sportswear and sneaker giant said the dividend and its $12
billion buyback plan announced last year reflect its continued
confidence in producing "sustainable, profitable growth and strong
cash flows."
The dividend has a Dec. 5 record date and is payable Jan. 3.
Based on Thursday's closing price, the new payout provides a 1.4%
yield. In after-hours trading, shares rose 5 cents to $51.64.
On Sept. 27, the company posted a higher profit and an 8%
increase in quarterly sales, but futures orders were lower than a
year earlier.
Nike has been facing increasing pressure from Under Armour Inc.
and Adidas AG in its domestic market.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
November 17, 2016 17:26 ET (22:26 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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