Nike's Dividend Yield Surges to a Record 4.8%. Is the Dow Component the Ultimate Turnaround Dividend Stock or a Yield Trap?
Nike's shift toward higher-quality products and a tighter supply chain could pay off for patient investors.
Overview
On Oct. 2, Nike (NYSE: NKE) plummeted to a 13-year intraday low of $31.97 per share before recovering to $33.87 by the end of the session.
The sell-off was in response to Nike's first quarter fiscal 2027 earnings and guidance, which forecasts a high single-digit decline in fiscal 2027 revenue.
Details
Nike's tumbling stock price -- paired with 24 consecutive years of dividend increases -- has pushed its dividend yield up to 4.8% -- making it the highest yielding component in the Dow Jones Industrial Average (DJINDICES: ^DJI).
Source
Originally published at www.fool.com.
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