Steelcase Inc. (NYSE:SCS) will release earnings results for the second quarter, after the closing bell on Wednesday, Sept. 24.

Analysts expect the company to report quarterly earnings at 37 cents per share, down from 39 cents per share in the year-ago period. Steelcase projects quarterly revenue of $873.6 million, compared to $855.8 million a year earlier, according to data from Benzinga Pro.

On Aug. 4, HNI announced it will acquire Steelcase for approximately $2.2 billion.

With the recent buzz around Steelcase, some investors may be eyeing potential gains from the company's dividends. As of now, Steelcase offers an annual dividend yield of 2.37%, which is a semi-annual dividend amount of 10 cents per share (40 cents a year).  

So, how can investors capitalize on its dividend yield to earn a regular $500 monthly?

To earn $500 per month or $6,000 annually from dividends alone, you would need an investment of approximately $253,500 or around 15,000 shares. For a more modest $100 per month or $1,200 per year, you would need $50,700 or around 3,000 shares.

To calculate: Divide the desired annual income ($6,000 or $1,200) by the dividend ($0.40 in this case). So, $6,000 / $0.40 = 15,000 ($500 per month), and $1,200 / $0.40 = 3,000 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 remains unchanged. Conversely, if the dividend payment decreases, so will the yield.

SCS Price Action: Shares of Steelcase gained 0.1% to close at $16.90 on Monday.

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