FedEx Corporation (NYSE:FDX) will release earnings for its fourth quarter after the closing bell on Tuesday, June 23.

Analysts expect the company to report quarterly earnings of $5.92 per share, down from $6.07 per share in the year-ago period. The consensus estimate for FedEx's quarterly revenue is $24 billion (it reported $22.22 billion last year), according to Benzinga Pro.

Ahead of quarterly earnings, Barclays analyst Brandon Oglenski maintained FedEx with an Overweight rating on June 12 and lowered the price target from $450 to $425.

With the recent buzz around FedEx, some investors may be eyeing potential gains from the company's dividends too. As of now, FedEx has an annual dividend yield of 1.45%, which is a quarterly dividend amount of $1.22 per share ($4.88 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 $412,960 or around 1,230 shares. For a more modest $100 per month or $1,200 per year, you would need $82,592 or around 246 shares.

To calculate: Divide the desired annual income ($6,000 or $1,200) by the dividend ($4.88 in this case). So, $6,000 / $4.88 = 1,230 ($500 per month), and $1,200 / $4.88 = 246 shares ($100 per month).

Note that dividend yield can change on a rolling basis, as the dividend payment and the stock price both fluctuate over time.

How that works: The dividend yield is computed by dividing the annual dividend payment by the stock’s current price.

For example, if a stock pays an annual dividend of $2 and is currently priced at $50, the dividend yield would be 4% ($2/$50). However, if the stock price increases to $60, the dividend yield drops to 3.33% ($2/$60). Conversely, if the stock price falls to $40, the dividend yield rises to 5% ($2/$40).

Similarly, changes in the dividend payment can impact the yield. If a company increases its dividend, the yield will also increase, provided the stock price stays the same. Conversely, if the dividend payment decreases, so will the yield.

FDX Price Action: Shares of FedEx fell 0.9% to close at $335.74 on Tuesday.

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