NIKE (NKE) Announces New $8 Billion Stock Buyback Plan
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Late Wednesday, NIKE, Inc. (NYSE: NKE) announced a new four-year, $8 billion share repurchase plan. The new plan will commence after the current $5 billion plan is completed during the second quarter of fiscal 2013.
"We believe repurchasing our shares is a prudent use of our cash and are pleased to extend NIKE’s track record of returning value to shareholders through sustained share repurchases," said Mark Parker, NIKE, Inc. President and CEO. "Over the past 10 years, NIKE, Inc. has returned $10 billion to shareholders through the repurchase of more than 167 million shares. This new share repurchase program demonstrates our continued confidence in NIKE’s strategy to generate long-term profitable growth and strong cash flow, and reflects our commitment to delivering value to our shareholders."
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"We believe repurchasing our shares is a prudent use of our cash and are pleased to extend NIKE’s track record of returning value to shareholders through sustained share repurchases," said Mark Parker, NIKE, Inc. President and CEO. "Over the past 10 years, NIKE, Inc. has returned $10 billion to shareholders through the repurchase of more than 167 million shares. This new share repurchase program demonstrates our continued confidence in NIKE’s strategy to generate long-term profitable growth and strong cash flow, and reflects our commitment to delivering value to our shareholders."
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