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Nike increases dividend by 14 percent

BEAVERTON, Ore. (AP) -- Nike is increasing its quarterly dividend by 14 percent.

The athletic shoe maker's new dividend of 24 cents per share will be paid on Jan. 6 to shareholders of record as of Dec. 16. That's up from its most recent dividend of 21 cents per share.

Shares of the Beaverton, Ore.-based company rose 23 cents to $78.32 in extended trading following the announcement.