The share price of Dettol owner Reckitt (LSE: RKT) has fallen significantly in 2026 and, as a result, its dividend yield has soared. Looking at dividend forecasts for the FTSE 100 company, we now have a prospective yield of around 5%, which is high for a consumer staples business.

Is the stock worth considering for an ISA or SIPP in light of this chunky dividend yield? Let’s take a look at the set-up here.

Hurt by high oil prices

Consumer staples stocks are meant to hold up well during periods of economic/geopolitical uncertainty (because people tend to keep buying household essentials). However, it hasn’t worked out this way for Reckitt this year.

One issue for this company is that it’s vulnerable to higher oil prices. Not only do its cleaning and personal care products rely on oil-derived chemicals, but the group relies on petroleum for packaging and oil-based fuel for transportation.

So ultimately, the recent oil price spike is bad news for Reckitt. Note that in its Q1 results, it said that if oil was to remain at $110 per barrel for the remainder of 2026 (it’s closer to $100 now), it would be looking at an increase of £130m-£150m on its input cost base in 2026 (and therefore lower profits).

I’ll point out here that other similar companies have also seen share price weakness in 2026. For example, Unilever and Clorox have fallen heavily since oil prices spiked.

A lack of growth

Another issue for Reckitt however, is that top-line growth has been weak. Looking at Q1 results, growth in Europe and North America was negative last quarter.

The company blamed a weak cold and flu season, soft demand across Europe, and US pricing headwinds for the poor performance. So it’s not just high oil prices that are creating challenges for the group right now.

The positives

The good news is that the company has maintained its 2026 like-for-like net revenue outlook for the core business. Here, it’s targeting growth of 4%-5%.

Looking ahead, the company expects to benefit from a reset of the cold and flu season as well as the launch of ‘superior innovations’ across its product categories. It’s also taking action to improve performance across Europe.

In the emerging markets – where growth was decent in Q1 – it expects continued strong performance, led by China and India. Here, it’s targeting high-single-digit growth over the medium term.

However, it’s worth pointing out the company said that if commodity prices remain high, it anticipates an impact on consumer demand as a result of pressure on household budgets. This is a risk to consider.

Worth a look?

So is the stock worth considering today? I think so. There are obviously risks around continued high oil prices. But eventually I expect oil prices to moderate.

When they do, Reckitt shares should get a lift. So anyone buying now may be able to benefit from both a share price rebound and the 5% dividend yield on offer.