NKE - 1 Dividend Stock Down 47%: Should You Buy It Hand Over Fist Right Now?
2024-05-13 01:30:00 ET
With the S&P 500 near record territory, investors might think that there aren't compelling buying opportunities being served up right now. While that's a rational way to think, it's just not true. Even some dominant and well-known businesses have taken a hit in recent times.
For example, there's one dividend stock that's currently 47% off its peak price, which was set in November of 2021. Does this dip mean you should buy shares hand over fist right now?
In November last year, Nike (NYSE: NKE) announced a quarterly dividend of $0.37 per share. This meant it was the 22nd straight year that the business raised its payout. There are few companies out there that can match that kind of track record of providing a rising income stream over such an extended period of time.
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1 Dividend Stock Down 47%: Should You Buy It Hand Over Fist Right Now?