3M Company MMM is expected to release earnings results for its fourth quarter before the opening bell on Jan. 23, 2024.
Analysts expect the Saint Paul, Minnesota-based company to report quarterly earnings at $2.31 per share on revenue of $7.70 billion, according to data from Benzinga Pro.
3M recently received $34.2 million award to improve treatment of traumatic wounds from point-of-injury to hospital.
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With the recent buzz around 3M, some investors may be eyeing potential gains from the company’s dividends, too. 3M currently offers an annual dividend yield of 5.57% — a quarterly dividend amount of $1.50 per share ($6.00 a year).
Investors can exploit this 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 $107,760 or around 1,000 shares. For a more modest $100 per month or $1,200 per year, you would need $21,552 or around 200 shares.
To calculate: Divide the desired annual income ($6,000 or $1,200) by the dividend ($6.00 in this case). So, $6,000 / $6.00 = 1,000 ($500 per month), and $1,200 / $6.00 = 200 shares ($100 per month).
Note that dividend yield can change on a rolling basis, as the dividend payment and the stock price both fluctuate over time.
How that works: The dividend yield is computed by dividing the annual dividend payment by the stock’s current price.
For example, if a stock pays an annual dividend of $2 and is currently priced at $50, the dividend yield would be 4% ($2/$50). However, if the stock price increases to $60, the dividend yield drops to 3.33% ($2/$60). Conversely, if the stock price falls to $40, the dividend yield rises to 5% ($2/$40).
Similarly, changes in the dividend payment can impact the yield. If a company increases its dividend, the yield will also increase, provided the stock price stays the same. Conversely, if the dividend payment decreases, so will the yield.
MMM Price Action: Shares of 3M gained 1.2% to close at $107.76 on Friday.
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Image and article originally from www.benzinga.com. Read the original article here.