How To Earn $500 A Month From Bank of America Stock Ahead Of Q3 Earnings

Bank of America Corporation BAC currently offers an annual dividend yield of 2.6%. That’s a quarterly dividend amount of 26 cents per share ($1.04 a year).To earn$500 monthly from the Charlotte, North Carolina-based firm, start with a yearly target of $6,000 ($500 x 12 months).Next, we take this amount and divide it by Bank of America's $1.04 dividend:$6,000 / $1.04 = 5,769 sharesSo, an investor would need to own approximately$230,587 worth of Bank of America, or 5,769 shares to generate a monthly divide ...