What Happens to Nike Stock's Yield if the Stock Doubles?

Nike's dividend yield has reached a record 4.6% due to a 30% stock price decline over the past decade, despite 24 consecutive years of dividend increases. If the stock were to double, the yield would be cut in half, but this would signal improved business fundamentals and earnings growth. However, Nike currently faces challenges from weak China performance, direct-to-consumer strategy issues, and increased competition, putting pressure on sales and earnings.