Benzinga - by Lisa Levin, Benzinga Editor.
Tecnoglass Inc (NYSE: TGLS) reported upbeat results for its third quarter and tightened its full-year sales outlook on Monday.
Revenue grew 4.4% Y/Y to $210.7 million, beating the consensus of $207.6 million. Adjusted EPS of 98 cents, beating the consensus of 97 cents.
For FY23, the company tightened sales outlook to $835 million-$848 million from $830 million-$855 million. The company revised the adjusted EBITDA outlook to $300 million-$308 million (from $320 million-$335 million earlier), representing growth of about 14% at the midpoint.
With Tecnoglass reporting upbeat quarterly earnings, some investors may be eyeing potential gains from the company’s dividends. As of now, Tecnoglass has a dividend yield of 1.19%, which is a quarterly dividend amount of 9 cents a share (36 cents a year).
To figure out how to earn $500 monthly from Tecnoglass dividends, we start with the yearly target of $6,000 ($500 x 12 months).
Next, we take this amount and divide it by Tecnoglass $0.36 dividend: $6,000 / $0.36 = 16,667 shares
So, an investor would need to own approximately $502,177 worth of Tecnoglass, or 16,667 shares to generate a monthly dividend income of $500.
Assuming a more conservative goal of $100 monthly ($1,200 annually), we do the same calculation: $1,200 / $0.36 = 3,333 shares, or $100,423 to generate a monthly dividend income of $100.
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Note that dividend yield can change on a rolling basis, as the dividend payment and the stock price both fluctuate over time.
The dividend yield is calculated by dividing the annual dividend payment by the current stock price. As the stock price changes, the dividend yield will also change.
For example, if a stock pays an annual dividend of $2 and its current price is $50, its dividend yield would be 4%. However, if the stock price increases to $60, the dividend yield would decrease to 3.33% ($2/$60).
Conversely, if the stock price decreases to $40, the dividend yield would increase to 5% ($2/$40).
Further, the dividend payment itself can also change over time, which can also impact the dividend yield. If a company increases its dividend payment, the dividend yield will increase even if the stock price remains the same. Similarly, if a company decreases its dividend payment, the dividend yield will decrease.
TGLS Price Action: Shares of Tecnoglass fell 12.1% to close at $30.13 on Monday.
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