Home Banking & Finance How To Earn $500 A Month From TD SYNNEX Stock Ahead Of Q1 Earnings Report – TD Synnex (NYSE:SNX)

How To Earn $500 A Month From TD SYNNEX Stock Ahead Of Q1 Earnings Report – TD Synnex (NYSE:SNX)

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TD SYNNEX Corporation SNX is expected to release earnings results for its first quarter, before the opening bell on March 26, 2024.

Analysts expect the Fremont, California-based company to report quarterly earnings at $2.84 per share, down from $2.93 per share in the year-ago quarter. TD SYNNEX is projected to report quarterly revenue of $14.36 billion, according to data from Benzinga Pro.

On Feb. 6, TD SYNNEX named Miriam Murphy as leader of its business in Europe.

With the recent buzz around TD SYNNEX, some investors may be eyeing potential gains from the company’s dividends. As of now, TD SYNNEX has a dividend yield of 1.52%, which is a quarterly dividend amount of 40 cents a share ($1.60 a year).

To figure out how to earn $500 monthly from TD SYNNEX, we start with the yearly target of $6,000 ($500 x 12 months).

Next, we take this amount and divide it by TD SYNNEX’s $1.60 dividend: $6,000 / $1.60 = 3,750 shares

So, an investor would need to own approximately $395,400 worth of TD SYNNEX, or 3,750 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 / $1.60 = 750 shares, or $79,080 to generate a monthly dividend income of $100.

Also Read: Dell, TJX And 2 Other Stocks Insiders Are Selling

Note that dividend yield can change on a rolling basis, as the dividend payment and the stock price both fluctuate over time.

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.

SNX Price Action: Shares of TD SYNNEX closed at $105.44 on Monday.

Read More: Top 5 Consumer Stocks That May Crash This Month

Image: Made with Midjourney

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