Analysts expect Worthington Enterprises, Inc. (NYSE:WOR) to report quarterly earnings of 96 cents per share when it releases third-quarter (Q3) results on Tuesday, March 24.

That’s up from 91 cents per share in the year-ago period. The consensus estimate for Worthington's quarterly revenue is $349.41 million (it reported $304.52 million last year), according to Benzinga Pro.

With the recent buzz around Worthington and its completed acquisition of LSI Group, investors may be eyeing potential dividend gains. As of now, Worthington has an annual dividend yield of 1.60%, with a quarterly dividend of 19 cents per share (76 cents per year).  Here’s how investors can exploit the dividend yield to pocket $500 monthly.

To earn $500 per month or $6,000 annually from dividends alone, you would need an investment of approximately $376,070 or around 7,894 shares. For a more modest $100 per month or $1,200 per year, you would need $75,224 or around 1,579 shares.

To calculate: Divide the desired annual income ($6,000 or $1,200) by the dividend ($0.76 in this case). So, $6,000 / $0.76 = 7,894 ($500 per month), and $1,200 / $0.76 = 1,579 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: Compute the dividend yield 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.

WOR Price Action: Shares of Worthington fell 1.9% to close at $23.11 on Thursday.

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