Spectrum Brands Holdings, Inc. (NYSE:SPB) will release earnings results for the fiscal fourth quarter, before the opening bell, on Friday, Nov. 15.

The Middleton, Wisconsin-based company projects to report quarterly revenue of $747.51 million, compared to $740.7 million a year earlier, according to data from Benzinga Pro.

On Aug. 8, Spectrum Brands reported better-than-expected third-quarter revenue results. Additionally, the company approved a $500 million share repurchase program.

With the recent buzz around Spectrum Brands ahead of quarterly earnings, some investors may be eyeing potential gains from the company's dividends, too. Spectrum Brands currently offers an annual dividend yield of 1.79%. That’s a quarterly dividend amount of 42 cents per share ($1.68 a year).

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

Next, we take this amount and divide it by Spectrum Brands' $1.68 dividend: $6,000 / $1.68 = 3,571 shares.

So, an investor would need to own approximately $334,603 worth of Spectrum Brands, or 3,571 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 / $1.68 = 714 shares, or $66,902 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.

Price Action: Shares of Spectrum Brands fell by 1.1% to close at $93.70 on Wednesday.

The company expects to report quarterly earnings at $1.07 per share. That’s down from $1.36 per share in the year-ago period.

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