NIKE (NKE) Approves Two-for-One Split; Boosts Dividend
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NIKE, Inc. (NYSE: NKE) announced today that its Board of Directors approved a two-for-one split of both NIKE Class A and Class B Common shares. The stock split will be in the form of a 100 percent stock dividend payable on December 24, 2012 to shareholders of record at the close of business December 10, 2012.
Upon completion of the split, the outstanding shares of NIKE Class A and Class B common stock will increase to approximately 178 million and 720 million, respectively. The Company expects its common stock to begin trading at the split-adjusted price on December 26, 2012.
In addition, the Board of Directors declared a quarterly cash dividend on the company’s outstanding Class A and Class B Common Stock of $0.21 per share, on a post-split basis, payable on December 26, 2012 to shareholders of record at the close of business on December 10, 2012. The dividend represents a 17 percent increase over the previous split-adjusted quarterly rate of $0.18 per share. This is the eleventh year in a row the Company has increased its annual dividend, over which time the dividend has increased by a factor of almost seven.
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Upon completion of the split, the outstanding shares of NIKE Class A and Class B common stock will increase to approximately 178 million and 720 million, respectively. The Company expects its common stock to begin trading at the split-adjusted price on December 26, 2012.
In addition, the Board of Directors declared a quarterly cash dividend on the company’s outstanding Class A and Class B Common Stock of $0.21 per share, on a post-split basis, payable on December 26, 2012 to shareholders of record at the close of business on December 10, 2012. The dividend represents a 17 percent increase over the previous split-adjusted quarterly rate of $0.18 per share. This is the eleventh year in a row the Company has increased its annual dividend, over which time the dividend has increased by a factor of almost seven.
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