Goldman Sachs Group, Inc. (NYSE:GS) will release earnings for its first quarter before the opening bell on Monday, April 13.

Analysts expect the investment bank to report quarterly earnings of $16.22 per share. That’s up from $14.12 per share in the year-ago period. The consensus estimate for Goldman Sachs' quarterly revenue is $16.87 billion (it reported $15.06 billion last year), according to Benzinga Pro.

Some of the firm’s investors may be eyeing potential dividend gains. Currently, Goldman Sachs has an annual dividend yield of 2.08% — a quarterly dividend amount of $4.50 per share ($18.00 a year).  

So, how can investors exploit its dividend yield to pocket a regular $500 monthly?

To earn $500 per month or $6,000 annually from dividends alone, you would need an investment of approximately $287,762 or around 333 shares. For a more modest $100 per month or $1,200 per year, you would need $57,898 or around 67 shares.

To calculate: Divide the desired annual income ($6,000 or $1,200) by the dividend ($18.00 in this case). So, $6,000 / $18.00 = 333 ($500 per month), and $1,200 / $18.00 = 67 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.

GS Price Action: Shares of Goldman Sachs fell 0.2% to close at $864.15 on Tuesday.

Ahead of quarterly earnings, Evercore ISI Group analyst Glenn Schorr, on Monday, maintained Goldman Sachs with an Outperform rating and lowered the price target from $1,075 to $950. Jefferies analyst Daniel Fannon maintained the stock with a Buy and cut the price target from $1,125 to $1,049.

Photo via Shutterstock