How To Earn $500 A Month From 3M Stock Ahead Of Q1 Earnings

Earnings Report - 3M Company is set to release its earnings results for Q1 on April 22, with analysts expecting earnings of $1.77 per share, a decrease from $2.39 per share in the same period last year [1] - Projected quarterly revenue is $5.73 billion, down from $8 billion a year earlier [1] - Citigroup analyst Andrew Kaplowitz has maintained a Neutral rating on 3M and lowered the price target from $152 to $142 [1] Dividend Information - 3M currently offers an annual dividend yield of 2.24%, translating to a quarterly dividend of 73 cents per share, or $2.92 annually [2] - To achieve a monthly income of $500 from dividends, an investment of approximately $267,582 or around 2,055 shares is required [2] - For a more modest monthly income of $100, an investment of $53,516 or around 411 shares is necessary [2] Dividend Yield Mechanics - The dividend yield is calculated by dividing the annual dividend payment by the stock's current price [3] - Changes in stock price affect the dividend yield; for instance, if a stock priced at $50 pays a $2 annual dividend, the yield is 4%, but if the price rises to $60, the yield drops to 3.33% [3] - Conversely, if the stock price falls to $40, the yield increases to 5% [3] Impact of Dividend Changes - Changes in dividend payments also impact the yield; an increase in dividends raises the yield if the stock price remains constant, while a decrease lowers the yield [4] - 3M's shares fell 0.2% to close at $130.21 on Thursday [4]