Nike's stock buyback passes $2.5B

Nike's stock buyback passes $2.5B

The company announced a four-year $8 billion share repurchase program in 2012.

Cash-rich Nike is ramping up purchases of its stock as it continues executing on a three-pronged capital strategy of returning money through dividends, buying back shares and investing in its business.

The strategy is Nike's way of dealing with the $6.5 billion in cash and equivalents on its balance sheet. The company also had more than $3 billion in free cash flow in its last fiscal year, an all-time high.

Read more at Portland Business Journal