American sportswear brand Nike’s plans to raise its quarterly dividend payout come at a time when every other fashion retailer is drastically cutting shareholders payouts owing to coronavirus.
And Nike will be increasing the dividend payout for the 19th successive year.
The fashion giant has said that it will be increasing the payout by as much as 12 per cent or 3 cents per share.
Notably, a cash dividend of US $ 0.275 per share on Nike’s outstanding class A and class B stock is payable on 29 December.
The retailer, had in September, said that it expects the sales to surge significantly in the second half of the year, which would end in May 2021.
Here it is also important to state that the sportswear label has been working hard on its business strategies by cutting down corporate jobs and also intelligently making online investments.
Consequently, its shares too have doubled lately, with the retailer gradually becoming more of a direct-to-consumer retailer through its own websites and physical stores.
The 56-year-old retailer generates revenue of US $ 37.40 billion.