Worthington Enterprises, Inc . (NYSE: WOR ) will release earnings for its second quarter, after the closing bell on Tuesday, Dec. 17.

Analysts expect the Columbus, Ohio-based company to report quarterly earnings at 52 cents per share, down from 78 cents per share in the year-ago period. Worthington projects to report quarterly revenue of $273.77 million, compared to $1.09 billion a year earlier, according to data from Benzinga Pro .

On Sept. 24, Worthington posted weaker-than-expected result for its second quarter.

With the recent buzz around Worthington, some investors may be eyeing potential gains from the company's dividends too. As of now, Worthington offers an annual dividend yield of 1.73%, which is a quarterly dividend amount of 17 cents per share (68 cents 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 $346,254 or around 8,824 shares. For a more modest $100 per month or $1,200 per year, you would need $69,259 or around 1,765 shares.

To calculate: Divide the desired annual income ($6,000 or $1,200) by the dividend ($0.68 in this case). So, $6,000 / $0.68 = 8,824 ($500 per month), and $1,200 / $0.68 = 1,765 shares ($100 per month).

View more earnings on WOR

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: The dividend yield is computed 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 gained 0.3% to close at $39.24 on Friday.

Read More:

Image: Shutterstock

UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily , plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets.

Get the latest stock analysis from Benzinga?