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Finish Line increases dividend 17 percent

INDIANAPOLIS (AP) -- The Finish Line Inc. said Wednesday that it will increase its quarterly dividend by a penny, or 17 percent.

The retailer will increase its payout to 7 cents from 6 cents. The dividend is payable March 18 to shareholders of record as of March 1.

Finish Line said that the move is part of its commitment to direct returns to its shareholders.

The company, based in Indianapolis, sells athletic shoes, clothing and accessories at 650 stores across the U.S.

Finish Line shares climbed 21 cents to close the day at $17.73 but were unchanged in after-hours trading on the news.