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Nike announces stock split, declares dividend

Thu Feb 15, 2007 9:35pm EST

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NEW YORK, Feb 15 (Reuters) - Nike Inc. (NKE.N) said on Thursday its board of directors approved a two-for-one stock split in the form of a 100 percent stock dividend payable on April 2.

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Upon completion of the split, the outstanding shares of Nike's Class A and Class B common stock will increase to about 118 million and 387 million, respectively, the sporting goods retailer said. The company said it expects its stock stock will start trading at the split-adjusted price on April 3.

The Beaverton, Oregon-based company's board also declared a regular quarterly cash dividend of 37 cents a share on a pre-split basis, payable April 2.

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