Hormel Foods Corporation (NYSE:HRL) is set to release earnings results for its third quarter, after the closing bell on Wednesday, Sept. 4.
Some investors may be eyeing potential gains from the company's dividends too. As of now, Hormel Foods offers an annual dividend yield of 3.47%. That’s a quarterly dividend amount of 28.25 cents per share ($1.13 a year).
So, how can investors exploit its dividend yield to pocket a regular $500 monthly?
To earn $500 per month or $6,000 annually from dividends alone, you would need an investment of approximately $172,841 or around 5,310 shares. For a more modest $100 per month or $1,200 per year, you would need $34,568 or around 1,062 shares.
To calculate: Divide the desired annual income ($6,000 or $1,200) by the ...
