The Board of Directors of NIKE, Inc. has declared a quarterly cash dividend of 20 cents per share on the Company's outstanding Class A and Class B Common Stock.
The 20-cent dividend, which is payable January 5, 2004 to shareholders of record at the close of business December 15, 2003, is a 43% increase over the previous quarterly rate of 14 cents per share.
“We are very pleased to continue to provide an increasing cash return to our shareholders through this dividend increase,” said Philip H. Knight, Nike Chairman and Chief Executive Officer. “Nike has delivered very strong cash flow, and over the past five years, the Company has returned approximately 25% of this cash flow to shareholders through dividends. This is the second consecutive year that we've increased our dividend, which reflects our confidence in our cash flow generation, solid balance sheet, and the strong overall growth prospects for our business.”