NIKE (NKE) will increase its quarterly dividend by 16.7 percent to $0.28 per share in the fourth quarter of 2014. It's the 13th consecutive year of dividend increases for NIKE.

The increased dividend will be paid on January 5, 2015 to stockholders of record on December 15, 2014.

"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 Mark Parker, President and CEO of NIKE, Inc. "This increase, together with the four-year $8 billion share repurchase program announced in 2012, reflects the confidence we have in our strategies to generate sustainable, profitable growth and strong cash flows, to invest for the future and return cash to shareholders."

NIKE, Inc. is a designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. The company’s brands include Converse, which designs, markets and distributes athletic lifestyle footwear, apparel and accessories; and Hurley, which designs, markets and distributes surf and youth lifestyle footwear, apparel and accessories.