How To Earn $500 A Month From Citigroup Stock Ahead Of Q3 Earnings
Citigroup Inc. (NYSE: C ) will release its third-quarter earnings report before the opening bell on Tuesday, Oct. 13. Analysts expect the bank to report quarterly earnings of $2.62 per share, up from $2.26 per share a year ago. The consensus estimate for Citigroup’s quarterly revenue is $23.72 billion. It reported $22.09 billion last year, according to Pro. Ahead of quarterly earnings, TD Cowen analyst R. Scott Siefers reinstated Citigroup with a Buy on Oct. 8 and set a $150 price target. With the recent buzz around Citigroup, some investors may be eyeing potential gains from the company’s dividends too. Currently, Citigroup has an annual dividend yield of 2.07%, with a quarterly dividend of 67 cents per share ($2.68 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 to invest about $290,264, or around 2,239 shares. For a more modest $100 per month or $1,200 per year, you would need $58,079 or around 448 shares. To calculate: Divide the desired annual income ($6,000 or $1,200) by the dividend ($2.68 in this case). So, $6,000 / $2.68 = 2,239 shares ($500 per mont
Citigroup Inc. (NYSE: C ) will release its third-quarter earnings report before the opening bell on Tuesday, Oct. 13. 26 per share a year ago.
72 billion. 09 billion last year, according to Pro. Ahead of quarterly earnings, TD Cowen analyst R. Scott Siefers reinstated Citigroup with a Buy on Oct.
8 and set a $150 price target. With the recent buzz around Citigroup, some investors may be eyeing potential gains from the company’s dividends too. 68 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 to invest about $290,264, or around 2,239 shares. For a more modest $100 per month or $1,200 per year, you would need $58,079 or around 448 shares. 68 in this case). 68 = 448 shares ($100 per month).
Note that dividend yield can change on a rolling basis, as dividend payments and stock prices 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). 33% ($2/$60).
Conversely, if the stock price falls to $40, the dividend yield rises to 5% ($2/$40). Similarly, changes in dividend payments can affect 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, the yield will also fall.
64 on Friday. Photo via Shutterstock