BEAVERTON, Ore. - NIKE, Inc. (NYSE: NKE), a global leader in athletic footwear and apparel, has announced a quarterly cash dividend of $0.370 per share. The dividend is applicable to the company's Class A and Class B Common Stock and is scheduled for payment on July 1, 2024, to shareholders who are on record as of the close of business on June 3, 2024.
This announcement follows NIKE's consistent practice of paying quarterly dividends and reflects the company's ongoing commitment to delivering value to its shareholders. The declared dividend maintains the company's track record of financial returns to stockholders and is a sign of the Board of Directors' confidence in the financial strength and cash flow of the business.
As a prominent player in the sports and fitness industry, NIKE, Inc. designs, markets, and distributes a wide range of athletic footwear, apparel, equipment, and accessories. Its subsidiary brand, Converse, is also known for its athletic lifestyle footwear, apparel, and accessories. NIKE emphasizes its role in the market as a leading entity in the design and marketing of athletic products.
The company's financial information, including earnings releases and other relevant data, is publicly available for investors and interested parties. This information can be accessed through NIKE's investor relations website.
NIKE's stock performance and dividend yield are often watched closely by the investment community as indicators of the company's financial health and investor sentiment. The dividend payout is part of NIKE's broader financial strategy and capital allocation policy, which is designed to balance investment in growth opportunities with returning cash to shareholders.
InvestingPro Insights
NIKE, Inc. (NYSE: NKE) continues to demonstrate financial resilience and commitment to shareholder returns with its recent dividend declaration. With a robust market capitalization of $139.33 billion, NIKE stands out as a significant force in the industry. The company's dedication to rewarding shareholders is evident in its impressive track record of raising dividends for 22 consecutive years, a testament to its stable cash flow and financial management.
Analyzing NIKE's performance metrics, the company showcases a Price/Earnings (P/E) Ratio of 26.91, which aligns closely with the adjusted P/E ratio for the last twelve months as of Q3 2024 at 26.67. This valuation reflects investor expectations of future earnings growth and the company's profitability over the last year. Despite some analysts revising their earnings downwards for the upcoming period, the company's gross profit margin remains strong at 44.3%, indicating efficient operations and a solid competitive position as a prominent player in the Textiles, Apparel & Luxury Goods industry.
For investors considering NIKE as a potential addition to their portfolio, the company's shares are trading near their 52-week low, which may present an attractive entry point. It's also worth noting that NIKE has maintained dividend payments for 41 consecutive years, further reinforcing its status as a reliable dividend-paying stock. With liquid assets exceeding short-term obligations, NIKE's financial health appears robust.
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