Nike on Thursday said its board approved an increase to the company's quarterly dividend, raising it to 40 cents a share from 37 cents.
The new dividend, $1.20 on an annual basis, will be payable of Jan. 2, 2025, to shareholders of record at the close of business on Dec. 2.
Based on Thursday's closing share price of $75.68, the new dividend represents a yield of 1.5%.
In November 2023, the company raised its quarterly dividend from 34 cents.
Thursday's announcement marks the 23rd consecutive year Nike has raised dividends, the company said.
Write to Stephen Nakrosis at [email protected]