Nike will redeem its shares at $12 billion within four years


Moscow. November 20. The world’s largest manufacturer of sporting goods Nike Inc. announced its intention to buy back own shares amounting to $12 billion, Bloomberg reported.

The buyback, which is spread over 4 years, would start after the current program by $8 billion, which is expected to be completed in the current financial year, i.e. by the end of may 2016.

Nike also announced a stock split at the rate of 2:1. Stock split, which will be the first since 2012, will come into force on December 23.

In addition, the Board of the company approved an increase in its quarterly dividend from 28 to 32 cents a share.

Last fingado the company received net profit in the amount of $3,27 billion in addition, the volume of free liquidity is estimated at $5.92 billion

Nike shares in the previous auction on Friday rose by 5%. With the beginning of the year capitalization of the company jumped by 31%.