Nike Inc., the world’s largest sporting-goods company, announced a 2-for-1 stock split and boosted its dividend by 17 percent.
The split will increase the number of outstanding shares of Nike Class A and Class B common stock to about 178 million and 720 million, respectively, the Beaverton, Oregon-based company said today in a statement.
The quarterly dividend will rise 3 cents to 21 cents a share, on a post-split basis, and will be payable to shareholders of record on Dec. 10, Nike said.
Nike rose 1 percent to $91.70 at 4:31 p.m. in New York. The shares had dropped 5.7 percent this year through the close of regular trading.