Nike raises dividend by 12%

/ / News

Shares of Nike Inc. tacked on 0.2% in premarket trading Friday, after the athletic apparel and accessories company said it was raising its quarterly dividend by 12%. The new dividend of 27.5 cents a share, up from 24.5 cents, is payable Dec. 29 to shareholders of record on Dec. 7. Nike said it has raised its dividend for 19 straight years. Based on Thursday’s stock closing price of $131.91, the new annual dividend rate implies a dividend yield of 0.83%, compared with the implied yield for the S&P 500 of 1.60%. Nike’s stock has rallied 30.2% year to date through Thursday, while the Dow Jones Industrial Average , of which it is a component, has gained 3.3%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.