Nov 20 (Reuters) - Nike Inc NKE.N stated on Friday it could increase its quarterly dividend by 12%,
Nov 20 (Reuters) – Nike Inc NKE.N stated on Friday it could increase its quarterly dividend by 12%, or 3 cents per share, underscoring the monetary power of the world’s largest sportswear maker within the midst of the COVID-19 pandemic.
Nike in September stated it expects gross sales within the second half of its fiscal yr ending Might 2021 to be “up considerably”, as it bounces again from a hunch earlier this yr when retailers canceled orders and lockdowns saved individuals away from shops in key markets.
The corporate’s share value, up about 30% this yr, has greater than doubled since its March low because it slashed prices by slicing company jobs and focused on-line investments.
A money dividend of $0.275 per share on Nike’s excellent class A and sophistication B inventory is payable on Dec. 29.
2020 marks Nike’s 19th consecutive yr of accelerating dividend payouts, after elevating quarterly funds by 11% in 2019, and comes as many different firms both reduce or pause shareholder returns because of the virus outbreak.
(Reporting by Uday Sampath in Bengaluru; Enhancing by Devika Syamnath)
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