Sneaker manufacturing giant (NYSE: NKE) is a consistently profitable company with a track record of dividend hikes. Does this mean you should put on your running shoes and rush out to buy Nike stock, though?

It is possible to generate $1,000 in dividend income from Nike stock if your account is big enough. After taking note of Nike's less-than-stellar recent financial performance, however, you may end up seeking income opportunities elsewhere.

For what it's worth, Nike's annualized forward dividend yield of 1.75% beats the consumer cyclical sector's average yield of around 1%. Moreover, Nike has raised its quarterly dividend distributions by $0.03 per share each year since 2019.

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Source Fool.com