Micron Technology, Inc. (NASDAQ:MU) is set to release earnings results for its fourth quarter after the closing bell on Wednesday, Sept. 25.
After viewing the report, investors may be eyeing potential gains from the company's dividends.
Boise, Idaho-based Micron currently offers an annual dividend yield of 0.49%. That’s a quarterly dividend amount of 11.5 cents per share (46 cents 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 $1,226,042 or around 13,043 shares. For a more modest $100 per month or $1,200 per year, you would need $245,246 or around 2,609 shares.
To calculate: Divide the desired annual income ($6,000 or $1,200) by the dividend ($0.46 in this case). So, $6,000 / $0.46 ...
