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| Nike shares jump on share buyback | Nike shares jump on share buyback |
| (about 1 hour later) | |
| Shares in Nike have jumped more than 5% after the US sportswear giant announced a dividend rise, a massive share buyback and a stock split. | Shares in Nike have jumped more than 5% after the US sportswear giant announced a dividend rise, a massive share buyback and a stock split. |
| The $12bn (£7.9bn) buy-back, 14% dividend increase and share split were revealed late on Thursday and sent Nike shares up almost 7 cents to $132.55. | The $12bn (£7.9bn) buy-back, 14% dividend increase and share split were revealed late on Thursday and sent Nike shares up almost 7 cents to $132.55. |
| The buy-back will be spread out over the next four years. | |
| The company said it was "built for growth while staying committed to creating shareholder value. | The company said it was "built for growth while staying committed to creating shareholder value. |
| "We've proved it time and again, having returned over $23bn to shareholders over the last 14 years through repurchases and dividends." | "We've proved it time and again, having returned over $23bn to shareholders over the last 14 years through repurchases and dividends." |
| Nike is the biggest sportswear maker in the world, and recently announced a sharp rise in profits thanks largely to rising sales in China. | Nike is the biggest sportswear maker in the world, and recently announced a sharp rise in profits thanks largely to rising sales in China. |
| Profits for the three months to the end of August were $1.18bn, up nearly a quarter from a year earlier. | Profits for the three months to the end of August were $1.18bn, up nearly a quarter from a year earlier. |