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Nike Just Did It
Having suffered a little recently on the heels of retailer concerns, Nike - the best performer in The Dow this year - is surging back towards all-time record highs after unleashing a new share buyback program (upping the limit from $8bn to $12bn), a stock split and a dividend boost.
- *NIKE SETS $12B SHARE BUYBACK, 2-FOR-1 STOCK SPLIT, BOOSTS DIV
- *NIKE SEES CURRENT $8B SHARE BUYBACK COMPLETED BEFORE FY16 END
- *NIKE, 14% BOOST IN QTRLY DIV & 2-FOR-1 STOCK SPLIT
Statement:
NIKE, Inc. (NYSE:NKE) announced today that its Board of Directors approved a new four-year, $12 billion program to repurchase shares of NIKE’s Class B Common Stock. The Company anticipates that the current $8 billion share repurchase program will be completed before the end of fiscal 2016, and the new program will commence upon the completion of the current program.*
Repurchases under the Company’s new program will be made in open market or privately negotiated transactions in compliance with Securities and Exchange Commission Rule 10b-18, subject to market conditions, applicable legal requirements, and other relevant factors. This share repurchase plan does not obligate the Company to acquire any particular amount of common stock, and it may be suspended at any time at the Company’s discretion. NIKE had approximately 678 million shares of Class B Common Stock outstanding as of November 16, 2015.
“In a growing sports industry, NIKE is the clear leader,” said Mark Parker, President and CEO of NIKE, Inc. “We are built for growth, while also staying committed to creating shareholder value over the long term. We’ve proven it time and again, having returned over $23 billion to shareholders over the last 14 years through share repurchases and dividends. Moving forward, we see even greater potential for NIKE as we continue to unlock new markets, new experiences and new products.”
The Board of Directors also declared a quarterly cash dividend on the Company’s outstanding Class A and Class B Common Stock of $0.32 per share, on a pre-split basis, payable on January 4, 2016 to shareholders of record at the close of business on December 9, 2015. The dividend represents a 14 percent increase over the previous pre-split quarterly rate of $0.28 per share. This is the fourteenth year in a row the Company has increased its annual dividend, over which time the dividend has increased by a factor of more than 10.
The Board of Directors also approved a two-for-one split of both NIKE’s Class A and Class B Common shares. The stock split will be in the form of a 100 percent stock dividend payable on December 23, 2015 to shareholders of record at the close of business December 9, 2015.
Upon completion of the split, the outstanding shares of NIKE’s Class A and Class B Common Stock will increase to approximately 353 million and 1.36 billion, respectively, based on the outstanding shares as of November 16, 2015. The Company expects its common stock to begin trading at the split-adjusted price on December 24, 2015.
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geez...
shit is that bad aye....
why not just create more shares out of thin air while theyre at it....
hilarious.
Procter & Gamble, The Strong Dollar, And Pepto Bismol by Tony Sagami, Mauldin Economics Applied Materials. Boeing. Coach. Ford. Intel. McDonald’s. Nike. Pfizer. What do those household-name companies have in common? they sell crap overseas iN US dollars.
Procter & Gamble, The Strong Dollar, And Pepto BismolBrook's shoes are superior.. but JUST DO IT!
Maybe "Shoe Buyback Program" is better for every body...?
Making combat boots for the ME
Buy em now before the Fed hikes*!
*Which they won't, but corporates are feeling the paranoia, anyways.
Boris is attempt Limrick:
Often Fed speak of rate hike
Inspire share purchase of Nike
Running Shoe is have soul
Central Bank is have no Sole
Janet Yellen and Hillary Clinton are Lesbian.
Okay, okay, maybe is need some work. Maybe ZHer can be suggest alternative thesaurus word?
Boris, you are the coolest wackadoodle on the internet.
Truly this is modern Shakespeare. Bravo.
Eta horosho, Boris (why doesn't ZH allow cyrillic letters to print, govno!)!
You are very kind. Boris is humble thanks to you.
Character code is not support and web framework is not Unicode ready. Trevor, maybe you are hire Boris make website Unicode compliant? Boris is want type Chinese character!
.
a new share buyback program..., a stock split and a dividend boost....
and a beer chaser
And two hardboiled eggs...
https://www.youtube.com/watch?v=cC8PAQQIoCM
The follow up
https://www.youtube.com/watch?v=8ZvugebaT6Q
i don't know. putin is harming revenue for the next quarter report.
What would make everything perfect would be if Nike's main business was selling shares of Nike. Too bad that whole 'shoe' thing has to get in the way.
FUCKING HELL. WHEN DOES THIS SHIT EVER END?
FUCK YOU, NKE!!!!!!!!! BASTARDS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
The board is having to pull out all stops to hit bonuses.
NO NIKES ON THE GROUND.
Hasn't it been obvious how that ISIS account has been just blowin' shit up for NIKE?
Putting one shoe in front of the other to make headway is so out dated production. Corporations may have to print more shares.
They better have lots of left shoes for November 2016 if Hitlery wins.
Fuck! I was short 90% of my account at 100:1. Can I has bailout?
Sorry friend, bailouts are only for those that really need it, like JP Morgan, Wells Fargo and Goldman Sachs.
gofundme.com
I'm not aware of Nike being arm twisted by 'activist' (read Hedgefuckers) to shit their free cash all over Wall Street.
In fact you'd think they would be one of the few in a position to say 'go fuck yourself and try it'.
One day when the other shoe drops Korporate AmeriKa isn't going to have a pot to piss in or a window to throw it out of.
Who buys overpriced Nikes anyways when there are so many good alternatives?
See, black lives do matter!
black livers matter as well, but only when served with fava beans and a nice bottle of chianti...
Jordans for everyone!
Sure. Why not. A terrorist gang came out of 'nowhere', wearing Nike white footwear, and now the owners see the stock has a future for more such sales.
Ever get the feeling you are being scammed?
Certain corporations are profiting hugely off the latest 'globalist' wars. They are running amok. Yet career politicians claim expensive surveillance (fed directly to Israel) must monitor ordinary people while it fails to stop the moneychangers, and war profiteers.
Nike...you are on the bad boy list.
Quick! Quick! A place to put your money!! Run, Forrest, run!