By Stephen Nakrosis
Footwear and apparel company Nike, Inc. said Thursday its board approved an 11% increase to the company's quarterly cash dividend.
The new dividend of $0.305 will be payable on Dec. 28 to shareholders of record at the close of business on Dec. 6, the company said.
John Donahoe, the company's president and chief executive, said "This is now our 20th consecutive year of increasing dividend payouts."
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(END) Dow Jones Newswires