Dow Component Nike (NKE) To Go Ex-dividend Tomorrow

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

The Dow Jones Industrial Average ( ^DJI) is trading up six points at 17,112 as of Wednesday, Aug 27, 2014, 10:36 a.m. ET. During this time, 43.9 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 301 million. The NYSE advances/declines ratio sits at 1,590 issues advancing vs. 1,259 declining with 234 unchanged.
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Thursday, August 28, 2014 is the ex-dividend date for Dow component Nike (NYSE: NKE). Owners of shares as of market close today will be eligible for a dividend of 24 cents per share. At a price of $79.65 as of 10:36 a.m. ET, the dividend yield is 1.2% compared to the average Dow component yield of 2.6%.

The average volume for Nike has been 3.3 million shares per day over the past 30 days. Nike has a market cap of $55.27 billion and is part of the consumer goods sector and consumer non-durables industry. Shares are up 1.1% year-to-date as of Tuesday's close.

NIKE, Inc., together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories for men, women, and kids worldwide. The company has a P/E ratio of 26.5, below the average consumer non-durables industry P/E ratio of 26.9.
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TheStreet Ratings rates Nike as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company shows weak operating cash flow.

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