How To Earn $500 A Month From TD Synnex Stock After Q3 Results

TD Synnex Corp SNX recently reported mixed results for its third quarter.

The company reported a third-quarter revenue decline of 9.1% Y/Y to $13.96 billion, missing the consensus of $14.11 billion. Adjusted EPS of $2.78 (+1.5% Y/Y) surpassed the consensus of $2.48.

The company expects fourth-quarter revenue of $14.0 billion-$15.0 billion (vs. consensus of $15.21 billion), adjusted EPS of $2.40-$2.90 (vs. street view of $2.95), and adjusted gross billings in the range of $18.5 billion - $19.7 billion.

With TD Synnex reporting quarterly earnings, some investors may be eyeing potential gains from the company’s dividends. As of now, TD Synnex has a dividend yield of 1.45%, which is a quarterly dividend amount of $0.35 a share ($1.40 a year).

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

Next, we take this amount and divide it by TD Synnex’s $1.40 dividend: $6,000 / $1.40 = 4,286 shares

So, an investor would need to own approximately $413,856 worth of TD Synnex, or 4,286 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 / 1.40 = 857 shares, or $82,752 to generate a monthly dividend income of $100.

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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.

SNX Price Action: Shares of TD Synnex fell 5.2% to close at $96.56 on Tuesday.

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