Nike( NKE ) - Get Reportshares rose Friday after the athletic products company boosted its dividend 12% as its earnings continue to shine.

The new dividend is 27.5 cents and payable Dec. 29, with a forward yield of 0.83%. The company paid out 24.5 cents a share in October. This marks the 19thstraight year that Nike has increased its dividend.

Nike shares traded at $133.48, up 1.19%. The stock has climbed 32% so far this year. The Dow Jones Industrial Average has risen about 3%.

In the quarter ended Aug. 31, the Beaverton, Ore., company reported net income of 95 cents a share against 86 cents in the year-earlier quarter. Revenue slipped 0.6% to $10.59 billion from $10.66 billion.

Jim Cramer's Action Alerts PLUS holds Nike in its portfolio.

“Nike's financial strength was on display last quarter, after Nike reported a 10% year-over-year increase in adjusted earnings per share,” the Action Alerts PLUS team said.

“Nike is growing earnings faster than sales through the acceleration of its digital transformation journey and by focusing on increasing direct-to-consumer sales.”

Indeed, “Nike's digital presence is one of the best in retail thanks to its superior technology, membership programs, ecosystem of platforms, and a leadership team with plenty of digital experience under CEO John Donahoe,” said the AAP team.

“Following last quarter's result, which saw Nike's digital brand sales increase 83% YoY on a currency neutral basis, management reached its long-term goal of 30% digital mix as a percentage of total sales last quarter three years ahead of schedule.”

And, “gross margins for digital revenue are about 10 points higher versus wholesale sales in a normal environment,” Cramer and the AAP team said. “We continue to view Nike as a core holding and believe the stock has more room to run.’