The Board of Directors at Nike Inc has declared a quarterly cash dividend of US$0.27 per share on the company’s outstanding Class A and Class B common stock. The US$0.27 quarterly dividend, which is payable on 4 January 2010 to those recorded shareholders at the close of business on 7 December 2009, represents an 8% increase over the previous quarterly rate of US$0.25 per share.
“We are pleased to increase our dividend for the eighth year in a row,” said Mark Parker, President and CEO of Nike Inc. “Over the last five years we have more than doubled our annual dividend and paid out over US$1.8 billion to shareholders – reflecting our commitment to delivering value to shareholders and our on-going confidence in the business.”
In tandem with the latest company dividend, Phyllis Wise Ph.D. has been appointed to the Nike’s Board of Directors. Wise, 64, is the Executive Vice President and Provost of the University of Washington, where she is also professor of physiology and biophysics, biology, and obstetrics and gynecology.
"Dr Wise’s outstanding academic career, experience as a respected university leader and administrator of a multi-billion-dollar budget for the University of Washington, is a rare combination that makes her an ideal addition to our board,” said Philip Knight, Nike Founder and Chairman. “We look forward to her contributions to expand Nike’s position as the industry leader in innovation.”
