NIKE ANNOUNCES INCREASE IN QUARTERLY DIVIDEND
NIKE ANNOUNCES INCREASE IN QUARTERLY DIVIDEND BEAVERTON, Ore., Nov. 21 /PRNewswire/ -- The board of directors of
NIKE Inc. (NYSE, PSE: NKE) today declared a cash dividend of 15 cents per share on its outstanding Class B Common Stock and Class A Common Stock payable Jan. 3, 1992, to shareholders of record at the close of business on Dec. 13, 1991.
This announcement represents a 7-percent increase over the previous quarterly rate of 14 cents per share and is consistent with the board's stated goal of maintaining an annual dividend in the range of 15 to 25 percent of the company's trailing 12-month earnings. This is the third consecutive annual increase in NIKE's dividend. "We are pleased to offer our shareholders an increased return on their investment," said NIKE Chief Executive Officer Philip H. Knight. "Our conservative dividend policy reflects the fact that significant growth opportunities remain for NIKE which require continued investment in our global infrastructure. These investments will further strengthen NIKE's position as the world's No. 1 sports and fitness company." -0- 11/21/91 /CONTACT: George Porter of NIKE Inc., 503-671-6453/ (NKE) CO: NIKE Inc. ST: Oregon IN: HOU SU: DIV SC-LM -- SE008 -- 6094 11/21/91 17:07 EST
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|Date:||Nov 21, 1991|
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