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Nike declares quarterly dividend of $0.28 per share
26
Nov '14
Nike Inc has announced that its Board of Directors has approved a quarterly dividend for holders of the company’s common shares in the amount of $0.28 per common share. The dividend will be paid on January 5, 2015 to shareholders of record at the close of business on December 15, 2014.

The quarterly dividend represents a 17 per cent increase over the previous quarterly rate of $0.24.

Mark Parker, president and CEO of Nike, said, “Nike has a consistent track record of delivering value to our shareholders and today’s announcement marks the 13th consecutive year we’ve increased our dividend.”

“This increase, together with the four-year $8 billion share repurchase program announced in 2012, reflects the confidence we have in our strategies to generate sustainable, profitable growth and strong cash flows, to invest for the future and return cash to shareholders,” he added.

Net income of Nike increased a staggering 23 per cent year-on-year to $962 million in first quarter of 2014, ended August 31, 2014, while diluted earnings per share surged 27 per cent, also from a year ago quarter to $1.09.

Revenues at Nike rose 15 per cent year-on-year, on both reported and currency neutral basis, to $8.0 billion in the first fiscal quarter of 2014. In the first quarter of 2014, gross margin rose 170 basis points to 46.6 per cent which Nike attributed to shift in product mix to higher margin products and higher average prices.

Nike, based near Beaverton, Oregon, is one of the leading designers, marketers, and distributors of authentic athletic apparel for a wide variety of sports and fitness activities. (GK)

Fibre2fashion News Desk - India

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