Strategizing for Passive Income: Leveraging TD Synnex Stock Dividends

Written By Michael Gary Scott

Anticipated Earnings and Market Buzz

TD SYNNEX Corporation (NYSE: SNX) is poised to unveil its first-quarter earnings on March 26, 2024, prior to the market opening. Analysts are predicting a per-share earnings drop from $2.93 in the prior year to $2.84 this quarter, with an estimated revenue of $14.36 billion based on Benzinga Pro data.

Unlocking Dividend Gains

The recent appointment of Miriam Murphy as the head of TD SYNNEX’s European operations has sparked interest among investors. With a current dividend yield of 1.52%, equivalent to a quarterly dividend of 40 cents per share ($1.60 annually), some investors are looking to capitalize on potential dividend gains.

Strategic Insight for Investors

Calculating how to generate $500 per month from TD SYNNEX involves owning approximately $395,400 worth of the company’s stock, translating to 3,750 shares earning a monthly dividend income of $500. For a more conservative target of $100 monthly ($1,200 annually), an investor would need 750 shares or invest $79,080 to secure a monthly dividend income of $100.

Understanding Dividend Yield Dynamics

It’s essential to recognize that dividend yield is subject to fluctuations due to changes in dividend payments and stock prices. As stock prices shift, dividend yields also adjust. For instance, a stock offering a $2 annual dividend at a $50 stock price would have a 4% dividend yield. If the stock price rises to $60, the yield drops to 3.33%, and vice versa.

Market Response and Price Action

As of the latest closing, TD SYNNEX shares concluded at $105.44 on Monday, reflecting market sentiment towards the company.


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