NIKE, Inc. (NKE) will raise its quarterly dividend by 11.4 percent to $0.245 per share in 2019. This marks the footwear and apparel company's 18th consecutive year of dividend increases.

The next dividend declared today is payable on January 2, 2020 to shareholders of record at the close of business December 2, 2019. A new annual rate of 98 cents per share yields 1.1% at a stock price of $93.

“NIKE has consistently delivered strong cash flow and returns for shareholders and today’s announcement marks NIKE’s 18th consecutive year of increasing dividend payouts,” said Mark Parker, Chairman, President and CEO of NIKE, Inc. “This dividend increase, combined with the four-year $15 billion share repurchase program announced in 2018, reflects continued confidence in our strategies to generate long-term, profitable growth as we accelerate execution of our Consumer Direct Offense.”

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.