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By AVI KAPOOR, Benzinga
Altria Group, Inc. (NYSE:MO) shares closed slightly higher during Friday's session.
On May 16, the company's board declared a regular quarterly dividend of 98 cents per share, payable on July 10, to shareholders of record as of June 14.
On April 25, Altria Group reported a first-quarter FY24 sales decline of 2.5% year-over-year to $5.58 billion. It beat the analyst consensus estimate of $4.71 billion.
With the recent buzz around Altria Group, some investors may be eyeing potential gains from the company's dividends. Altria currently has a dividend yield of 8.39% — a quarterly dividend amount of 98 cents a share ($3.92 a year).
To figure out how to earn $500 monthly from Altria, start with the yearly target of $6,000 ($500 x 12 months).
Next, we take this amount and divide it by Altria Group's $3.92 dividend: $6,000 / $3.92 = 1,531 shares
So, an investor would need to own approximately $71,498 worth of Altria Group, or 1,531 shares to generate a monthly dividend income of $500.
Assuming a more conservative goal of $100 monthly ($1,200 annually), we do the same calculation: $1,200 / $3.92 = 306 shares, or $14,290 to generate a monthly dividend income of $100.
Note that dividend yield can change on a rolling basis. The dividend payment and the stock price both fluctuate over time.
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The dividend yield is calculated by dividing the annual dividend payment by the current stock price. As the stock price changes, the dividend yield will also change.
For example, if a stock pays an annual dividend of $2 and its current price is $50, its dividend yield would be 4%. However, if the stock price increases to $60, the dividend yield would decrease to 3.33% ($2/$60).
Conversely, if the stock price decreases to $40, the dividend yield would increase to 5% ($2/$40).
Further, the dividend payment itself can also change over time, which can also impact the dividend yield. If a company increases its dividend payment, the dividend yield will increase even if the stock price remains the same. Similarly, if a company decreases its dividend payment, the dividend yield will decrease.
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