NIKE, Inc. Announces 9 Percent Increase in Quarterly Dividend

Rhea-AI Summary

NIKE, Inc. (NYSE: NKE) Announces 9% Increase in Quarterly Cash Dividend

Positive

• Consistent track record of delivering strong cash flow and returns for shareholders
• 22nd consecutive year of dividend increase reflects confidence in sustainable, profitable growth

Negative

• None.

BEAVERTON, Ore.--(BUSINESS WIRE)-- NIKE, Inc. (NYSE: NKE) announced today that its Board of Directors approved a quarterly cash dividend of $0.370 per share on the Company’s outstanding Class A and Class B Common Stock. This represents an increase of 9 percent versus the prior quarterly dividend rate of $0.340 per share. The dividend declared today is payable on January 2, 2024, to shareholders of record at the close of business December 4, 2023.

“Nike has a consistent track record of delivering strong cash flow and returns for shareholders and today’s announcement marks the 22nd consecutive year we have increased our dividend,” said John Donahoe, President & CEO, NIKE, Inc. “This dividend increase reflects our continued confidence in our strategies to generate sustainable, profitable growth, while investing for the future.”*

About NIKE, Inc.

NIKE, Inc., headquartered near Beaverton, Oregon, is the world's leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. Converse, a wholly-owned NIKE, Inc. subsidiary brand, designs, markets and distributes athletic lifestyle footwear, apparel and accessories. For more information, NIKE, Inc.’s earnings releases and other financial information are available on the Internet at https://investors.nike.com. Individuals can also visit https://about.nike.com/en/newsroom and follow NIKE on LinkedIn, Instagram and YouTube.

* The marked paragraphs contain forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties are detailed from time to time in reports filed by NIKE with the U.S. Securities and Exchange Commission (SEC), including Forms 8-K, 10-Q and 10-K.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231114769552/en/

Investor Contact:

Paul Trussell

investor.relations@nike.com

Media Contact:

Virginia Rustique-Petteni

media.relations@nike.com

Source: NIKE, Inc.

FAQ

What is the quarterly cash dividend approved by NIKE, Inc. (NYSE: NKE)?

The Board of Directors approved a quarterly cash dividend of $0.370 per share on the Company’s outstanding Class A and Class B Common Stock.

When is the dividend payable and to whom?

The dividend declared today is payable on January 2, 2024, to shareholders of record at the close of business December 4, 2023.

How does the dividend increase reflect the company's confidence in its strategies?

The 9% increase in the quarterly dividend reflects NIKE's confidence in its strategies to generate sustainable, profitable growth, while investing for the future.