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NIKE, Inc. Boosts Quarterly Dividend By 9% To $0.370 Per Share – $NKE $DIA $SPY $MODD

By John F. Heerdink, Jr.

As per reports, NIKE, Inc. (NKE) Board of Directors has sanctioned a quarterly cash dividend of $0.370 per share on the outstanding Class A and Class B Common Stock of the company. This marks a 9 percent upturn compared to the previous quarterly dividend of $0.340 per share. The declared dividend is set to be disbursed on January 2, 2024, to shareholders recorded at the end of business on December 4, 2023.

“Nike has a consistent track record of delivering strong cash flow and returns for shareholders and today’s announcement marks the 22nd consecutive year we have increased our dividend. This dividend increase reflects our continued confidence in our strategies to generate sustainable, profitable growth, while investing for the future”,  stated  John Donahoe, President & CEO, NIKE, Inc. 

NIKE, Inc. (NKE) is the world’s top designer, marketer, and distributor of athletic footwear, equipment, apparel, and accessories. The Beaverton, Oregon-based company offers products for a wide variety of sports and fitness activities. To learn more about NIKE, Inc. (NIKE) and to continue to track its progress please visit the Vista Partners NIKE Coverage Page.

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An Unmet Need in Diabetes Care

  • While Insulin Pumps Improve Glycemic Control,1-4 2 in 3 People with Type 1 Diabetes Still Manually Inject Insulin…
  • Tens of thousands of people suffer annually from the complications of diabetes, such as cardiovascular events, neuropathy, dementia, kidney disease, blindness and lower limb amputation – frequent consequences of poorly managed glycemic control.
  • There are 1.9 million individuals with Type 1 Diabetes in the US. 100% of patient population require daily insulin injection. Only 1 out of 3 currently use an insulin pump.
  • 32% of population utilizes insulin pumps for diabetes management
  • 68% of the population rely on multiple daily injections for diabetes management.
  • Almost Pumpers are 30% of the market. They would choose an insulin pump if it were less expensive, took less time to learn and use, and posed a low technological hurdle. This is believed to be a $1.9B market opportunity.

Modular Medical, Inc. (NASDAQ:MODD, is a development-stage medical device company that intends to launch the next generation of insulin delivery technology. Using its patented technologies, the company seeks to eliminate the tradeoff between complexity and efficacy, thereby making top quality insulin delivery both affordable and simple to learn. Their mission is to improve access to the highest standard of glycemic control for people with diabetes taking it beyond “superusers” and providing “diabetes care for the rest of us.” Modular Medical was founded by Paul DiPerna, a seasoned medical device professional and microfluidics engineer. Prior to founding Modular Medical, Mr. DiPerna was the founder (in 2005) of Tandem Diabetes and invented and designed its t:slim insulin pump. More information is available at https://modular-medical.com.

On Oct. 31, Modular Medical provided an update on its ongoing pre-submission testing and timeline for submission of its MODD-1 insulin pump (the “MODD-1”) to the U.S. Food and Drug Administration (“FDA”). The Company has made substantial progress on completing many of the tests required for submission and now has results back from some of the longest lead time tests, including insulin stability and potency. Modular Medical believes the test results received from multiple third-party laboratory tests are sufficient for submission of the MODD1 to the FDA for clearance, subject to the completion of other ongoing tests and reports. Jeb Besser, CEO of Modular Medical, commented, “The Modular Medical team has continued to make rapid progress towards our 510(k) submission to the FDA, since the completion of our pilot manufacturing line in August. While there is still additional testing to be done, we are starting to gain better visibility on our submission timeline, and we currently expect to make our FDA submission around year end 2023. We remain excited about our opportunity to bring access to better insulin delivery to underserved segments of the market.”

(Read Original Story: NIKE, Inc. Announces 9 Percent Increase in Quarterly Dividend in Business Wire)


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