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Nike is shoveling a bunch of money back to shareholders.
In an announcement on Thursday after the market close Nike announced it would repurchase $12 billion worth of stock, raise its dividend, and execute a 2-for-1 stock split.
Following the announcement shares of the retailer were up as much as 4% in after hours trade.
The company said that it expects its current $8 billion share repurchase plan to run out before the end of its fiscal 2016, and its new $12 billion program, which will run for four years, will kick in when that plan runs out.
Nike's dividend increase is a 14% increase, to $0.18 per share from $0.14.
The stock split will also see each existing Nike shareholder get two shares for each one share currently owned.
Nike's stock closed at around $125 per share on Thursday. The stock will begin trading on a split-adjusted basis on December 24.
This massive buyback announcement from Nike comes during a week that has seen much made of how corporations have been opting to deploy cash in the form of stock buybacks rather than business investment.
Analysts from Deutsche Bank, for example, found that this year, with no sales or earnings growth, buyback are the only thing supporting stock prices.
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