Bristol-Myers Squibb Company (NYSE:BMY) will release earnings for its second quarter before the opening bell on Thursday, July 30.

Analysts expect the company to report quarterly earnings of $1.60 per share, up from $1.46 per share in the year-ago period. The consensus estimate for Bristol-Myers Squibb’s quarterly revenue is $11.74 billion. It reported $12.27 billion last year, according to Benzinga Pro.

On July 10, BofA Securities analyst Tim Anderson maintained Bristol-Myers Squibb at Buy and lowered the price target from $67 to $66.

With the recent buzz around Bristol-Myers Squibb, some investors may be eyeing potential gains from the company’s dividends too. As of now, BMY has an annual dividend yield of 3.96%, which is a quarterly dividend amount of 63 cents per share ($2.52 a year).

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

Next, we take this amount and divide it by BMY’s $2.52 dividend: $6,000 / $2.52 = 2,381 shares.

So, an investor would need to own approximately $151,432 worth of BMY, or 2,381 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 / $2.52 = 476 shares, or $30,274 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, 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.

BMY Price Action: Shares of Bristol-Myers Squibb gained by 1.7% to close at $63.60 on Tuesday.

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