Beyond Apple's Keynote, Here's How To Yield $500 Per Month From Its Stock

Editor's note: This story has been updated to correct the amount of Apple stock and shares needed for $500 in monthly dividend income. 

As Apple Inc (NASDAQ:AAPL) hosts its WWDC 2023 keynote, spotlighting new tech and products such as the 15-inch MacBook Air, Mac Studio with M2 Max and M2 Ultra, iOS 17 for iPhone, iPadOS 17 for iPad and the VR headset Vision Pro, Benzinga wants to remind investors of another attractive feature of the tech giant: dividends.

More specifically, here's how much Apple stock an investor needs to own to yield $500 per month.

Apple, known for its consistent and growing dividend payments, currently offers a dividend yield of 0.52%. Using its yield, one can calculate the value of Apple stock required to achieve a certain level of dividend income.
Check out more high-yield investments here.

To determine how much Apple an investor would need to own in order to yield $500 per month in dividends, we can start by calculating the annual dividend income required: $500 x 12 months = $6,000.

Next, divide the amount by Apple’s 0.52% dividend yield: $6,000 / 0.0052 = $1,153,846.15.

This means that an investor would need to own approximately $1,153,846.15 in Apple stock, or 6,473 shares, to generate a monthly dividend income of $500.
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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.
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