NIKE (NKE) will raise its quarterly dividend by 12.5 percent to $0.18 per share, accounting for the November 2015 (2 for 1) stock split.

The new dividend will be payable on January 3, 2017, to shareholders of record at the close of business December 5, 2016.

"NIKE has a consistent track record of delivering value to our shareholders and today's announcement marks the 15th consecutive year we have increased our dividend," said Mark Parker, Chairman, President and CEO of NIKE, Inc. "This increase, together with the four-year $12 billion share repurchase program announced in 2015, reflects the continued confidence we have in our strategies to generate sustainable, profitable growth and strong cash flows, while investing for the future and returning cash to shareholders."

Today's increase indicates an annualized dividend rate of $0.72 per common share and a yield of approximately 1.4% based on the $51.59 closing price on November 17, 2016.

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.