How To Earn $500 A Month From Thor Industries Stock Ahead Of Q2 Earnings
THOR Industries, Inc. (NYSE: THO) is expected to release earnings results for its second quarter, before the opening bell on March 6, 2024.
Analysts expect the Elkhart, Indiana-based company to report quarterly earnings at 68 cents per share, up from year-ago earnings of 50 cents per share. THOR Industries is projected to post revenue of $2.27 billion, according to data from Benzinga Pro.
On Feb. 5, THOR Industries appointed Jeffrey D. Lorenger to its board of directors. In January, the company also named Michele McDermott as chief human resources officer (CHRO).
With the recent buzz around Thor Industries, some investors may be eyeing potential gains from the company’s dividends too. As of now, Thor Industries offers an annual dividend yield of 1.49%, which is a quarterly dividend amount of 48 cents per share ($1.92 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 $397,250 or around 3,125 shares. For a more modest $100 per month or $1,200 per year, you would need $79,450 or around 625 shares.
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To calculate: Divide the desired annual income ($6,000 or $1,200) by the dividend ($1.92 in this case). So, $6,000 / $1.92 = 3,125 ($500 per month), and $1,200 / $1.92 = 625 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.
THO Price Action: Shares of THOR Industries fell 1.5% to close at $127.12 on Monday.
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This article How To Earn $500 A Month From Thor Industries Stock Ahead Of Q2 Earnings originally appeared on Benzinga.com
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