NIKE, Inc. (NKE) will raise its quarterly dividend by  11.1 percent to  0.20 per share in the fourth quarter of 2017. The new dividend yield for NKE is 1.4%.

The new dividend is payable on January 2, 2018 to shareholders of record at the close of business December 4, 2017.

“This marks NIKE’s 16th consecutive year of increasing dividend payouts,” said Mark Parker, Chairman, President and CEO of NIKE, Inc. “Today’s announcement, combined with the four-year $12 billion share repurchase program we announced in 2015, demonstrates our continued confidence in generating strong cash flow and returns for shareholders through our new Consumer Direct Offense as we continue to invest in fueling sustainable, long-term growth and profitability.”

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.