BEAVERTON, Ore., Nov. 16 /PRNewswire-FirstCall/ -- The Board of Directors of NIKE, Inc. (NYSE: NKE) has declared a quarterly cash dividend of twenty three cents ($0.23) per share on the company's outstanding Class A and Class B Common Stock.

The 23-cent quarterly dividend, which is payable January 2, 2008 to shareholders of record at the close of business December 10, 2007, is a 24 percent increase over the previous quarterly rate of $0.185 per share.

"We are very pleased to increase our cash payout to shareholders for the sixth consecutive year," said Mark Parker, Nike, Inc. President and Chief Executive Officer. "Nike is a growth company with solid cash flow, a strong balance sheet and excellent long-term growth prospects. Over the past five years, we have increased the dividend an average of 25 percent a year. Today's increase reflects our ongoing commitment to creating and delivering value for our shareholders."*

NIKE, Inc. based near Beaverton, Oregon, is the world's leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. Wholly owned Nike subsidiaries include Converse Inc., which designs, markets and distributes athletic footwear, apparel and accessories; Cole Haan Holdings Incorporated, which designs, markets and distributes luxury shoes, handbags, accessories and coats; NIKE Bauer Hockey Corp., a leading designer and distributor of hockey equipment; Hurley International LLC, which designs, markets and distributes action sports and youth lifestyle footwear, apparel and accessories; and Exeter Brands Group LLC, which designs and markets athletic footwear and apparel for the value retail channel.