How to make $500 a month from LA-Z-Boy stocks ahead of fourth quarter revenue
La-Z-Boy Incorporated (NYSE:JBL) will announce the results of the fourth quarter of revenues The bell will close on Tuesday, June 17th.
Analysts expect the Monroe, Michigan-based company to report quarterly profits at 93 cents per share, up to 95 cents per share in the same period last year. According to data from Benzinga Pro, LA-Z-Boy has made quarterly revenues of $557.44 million into a project, comparing its quarterly revenue to $553 million the previous year.
On April 25, KeyBanc analyst Bradley Thomas upgraded La-Z-Boy from sector weight to overweight and announced a $46 price target.
With recent buzz surrounding La-Z-Boy, some investors may also be keeping an eye on the potential benefits from the company’s dividends. Currently, LA-Z-Boy offers an annual dividend yield of 2.26%. This is a quarterly dividend of 22 cents per share (88 cents per year).
So how can investors take advantage of dividend yields to pocket a regular $500 per month, $500?
To earn $500 a month or dividends alone, you’ll need to invest around $6,000 a year, or an investment of about $265,357 or about 6,818 shares. For a modest $100 per month or $1,200 per year, you’ll need $53,087 or about 1,364 shares.
To calculate: Divide the desired annual income ($6,000 or $1,200) by the dividend (in this case $0.88). So, $6,000/$0.88 = 6,818 ($500/month), and $1,200/$0.88 = 1,364 shares ($100/month).
Please note that dividend yields may vary on a rolling basis as dividend payments and stock prices fluctuate over time.
How it works: Dividend yields are calculated by dividing the annual dividend payment by the current price of the stock.
For example, if the stock pays an annual dividend of $2 and is currently priced at $50, the dividend yield would be 4% ($2/$50). However, when the stock price rises to $60, the dividend yield drops to 3.33% ($2/$60). Conversely, if the stock price drops to $40, the dividend yield will rise to 5% ($2/$40).
Similarly, changes to dividend payments can affect yields. If a company increases dividends, if the stock price remains the same, the yields will also increase. Conversely, if dividend payments decrease, yields also decrease.
JBL Price Action: Jabil’s shares fell 1.8% to close at $175.84 on Friday.
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This article How to make $500 a month from LA-Z-Boy stocks ahead of fourth quarter revenue It originally appeared Benzinga.com
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