Nike's Stock Gains After Dividend Hike

Nike Inc.'s stock rose 0.6% in after-hours trade Thursday, after the sports apparel seller raised its quarterly dividend by 17% to 28 cents a share. The new dividend will be payable on Jan. 5 to shareholders of record as of Dec. 15. The quarterly payout has now more than doubled in a little over four years. "Nike has a consistent track record of delivering value to our shareholders and today's announcement marks the 13th-consecutive year we've increased our dividend," said Chief Executive Mark Parker. The stock, which is a component of the Dow Jones Industrial Average, has gained 24% so far this year through Thursday, compared with a 6.9% rise in the Dow.