NIKE announces new $12 bln share repurchase program, 14% increase in quarterly dividend and two-for-one stock split. Details below.
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NIKE announces new $12 bln share repurchase program, 14% increase in quarterly dividend and two-for-one stock split :
- Co approved a new four-year, $12 bln program to repurchase shares of NIKE's Class B Common Stock. The Company anticipates that the current $8 bln share repurchase program will be completed before the end of fiscal 2016, and the new program will commence upon the completion of the current program.
- Board of Directors also declared a quarterly cash dividend on the Company's outstanding Class A and Class B Common Stock of $0.32 per share, on a pre-split basis, payable on January 4, 2016 to shareholders of record at the close of business on December 9, 2015. The dividend represents a 14 percent increase over the previous pre-split quarterly rate of $0.28 per share. This is the fourteenth year in a row the Company has increased its annual dividend, over which time the dividend has increased by a factor of more than 10.
- Also approved a two-for-one split of both NIKE's Class A and Class B Common shares. The split will be in the form of a 100% stock dividend payable on Dec 23, 2015 to shareholders of record at the close Dec 9, 2015.
