Steelcase Inc. (NYSE:SCS) will release its fourth-quarter financial results after the closing bell on Wednesday, March 26.

Analysts expect the company to report quarterly earnings at 21 cents per share, down from 23 cents per share in the year-ago period. Steelcase projects quarterly revenue of $790.9 million, compared to $775.2 million a year earlier, according to data from Benzinga Pro.

On Feb. 19, Steelcase named Megan Blazina as vice president, chief legal officer and secretary.

With the recent buzz around Steelcase, some investors may be eyeing potential gains from the company's dividends too. As of now, Steelcase offers an annual dividend yield of 3.78%, which is a quarterly dividend amount of 10 cents per share (40 cents a year).

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

Next, we take this amount and divide it by Steelcase's $0.40 dividend: $6,000 / $0.40 = 15,000 shares.

So, an investor would need to own approximately $158,700 worth of Steelcase, or 15,000 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 / $0.40 = 3,000 shares, or $31,740 to generate a monthly dividend income of $100.

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, say a stock pays an annual dividend of $2. If 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.

SCS Price Action: Shares of Steelcase fell by 2.4% to close at $10.58 on Tuesday.

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