Nike Boosts Dividend, Announces Stock Split

The company will also sell its Cole Haan unit for $570 million

   

Nike Boosts Dividend, Announces Stock Split

Nike Nike Boosts Dividend, Announces Stock SplitNike (NYSE:NKE) announced on Thursday that it will hike its quarterly dividend payments and will split its stock next month.

The footwear maker said it will raise its dividend to 21 cents a share, a 17% increase above the current dividend, the Associated Press reported.

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It will pay the higher dividend on Dec. 26 to investors who own shares as of Dec. 10.

Company officials said Nike’s shares would split two-for-one on Dec. 24. The company hasn’t split its shares since April 2007, despite sharp gains.

Shares of Nike rose about 1% in Friday morning trading on the news, hovering above $91 a share.

Earlier this month, reports surfaced that Nike was in negotiations to sell its Cole Haan handbag and shoe business to a private equity firm in a deal valued at more than $500 million. The Associated Press noted on Friday that the deal had been finalized and that Apax Partners would pay $570 million for Cole Haan.


Article printed from InvestorPlace Media, http://investorplace.com/2012/11/nike-boosts-dividend-announces-stock-split/.

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