Ahead of Bank of America Corp‘s (NYSE:BAC) second-quarter earnings report on Tuesday, July 14, investors are likely eyeing potential dividend gains.
Currently, the bank has an annual dividend yield of 1.92% — a quarterly dividend of 28 cents per share ($1.12 a year).
So, how can investors use its dividend yield to pocket a regular $500 per month?
To earn $500 per month or $6,000 annually from dividends alone, you would need an investment of approximately $312,313 or around 5,357 shares. For a more modest $100 per month or $1,200 per year, you would need $62,439 or around 1,071 shares.
To Calculate Bank of America Dividends
