Bank of America Corporation (NYSE:BAC) will release earnings results for the second quarter before the opening bell on Wednesday, July 16.

Some investors may be eyeing potential gains from the firm’s dividends. Currently, Bank of America offers an annual dividend yield of 2.20% — a quarterly dividend of 26 cents per share ($1.04 a year).

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

Next, we take this amount and divide it by Bank of America’s $1.04 dividend: $6,000 / $1.04 = 5,769 shares.

So, an investor would need to own approximately $269,585 worth of Bank of America, or 5,769 shares to generate a monthly dividend income of $500.

Assuming a more conservative goal of $100 monthly ($1,200 annually), …

Full story available on Benzinga.com

Bank of America Corporation (NYSE:BAC) will release earnings results for the second quarter before the opening bell on Wednesday, July 16.

Some investors may be eyeing potential gains from the firm’s dividends. Currently, Bank of America offers an annual dividend yield of 2.20% — a quarterly dividend of 26 cents per share ($1.04 a year).

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

Next, we take this amount and divide it by Bank of America’s $1.04 dividend: $6,000 / $1.04 = 5,769 shares.

So, an investor would need to own approximately $269,585 worth of Bank of America, or 5,769 shares to generate a monthly dividend income of $500.

Assuming a more conservative goal of $100 monthly ($1,200 annually), …

Full story available on Benzinga.com

 Bank of America Corporation (NYSE:BAC) will release earnings results for the second quarter before the opening bell on Wednesday, July 16.
Some investors may be eyeing potential gains from the firm’s dividends. Currently, Bank of America offers an annual dividend yield of 2.20% — a quarterly dividend of 26 cents per share ($1.04 a year).
To figure out how to earn $500 monthly from Bank of America, we start with the yearly target of $6,000 ($500 x 12 months).
Next, we take this amount and divide it by Bank of America’s $1.04 dividend: $6,000 / $1.04 = 5,769 shares.
So, an investor would need to own approximately $269,585 worth of Bank of America, or 5,769 shares to generate a monthly dividend income of $500.
Assuming a more conservative goal of $100 monthly ($1,200 annually), …Full story available on Benzinga.com   Read More$500 Dividend, BAC, dividend yield, dividends, Earnings, Long Ideas, News, Dividends, Top Stories, Markets, Trading Ideas, BAC, US0605051046, Long Ideas, News, Earnings, Dividends, Top Stories, Markets, Trading Ideas, Benzinga Markets