Intuit Inc. (NASDAQ:INTU) will release earnings results for the first quarter, after the closing bell, on Thursday, Nov. 21.

Analysts expect the Mountain View, California-based company to report quarterly earnings at $2.36 per share, down from $2.47 per share in the year-ago period. Intuit projects to report quarterly revenue of $3.14 billion, compared to $2.98 billion a year earlier, according to data from Benzinga Pro.

With the recent buzz around Intuit ahead of quarterly earnings, investors may be eyeing potential gains from the company's dividends. As of now, Intuit offers an annual dividend yield of 0.64%. That's a quarterly dividend amount of $1.04 per share ($4.16 a year).

To figure out how to earn $500 monthly from Intuit, we start with the yearly target of $6,000 ($500 x 12 months).

Next, we take this amount and divide it by Intuit's $4.16 dividend: $6,000 / $4.16 = 1,442 shares.

So, an investor would need to own approximately $938,165 worth of Intuit, or 1,442 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 / $4.16 = 288 shares, or $187,373 to generate a monthly dividend income of $100.

Note that dividend yield can change on a rolling basis (the dividend payment and the stock price 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.

INTU Price Action: Shares of Intuit gained by 1% to close at $650.60 on Wednesday.

On Nov. 18, Scotiabank analyst Allan Verkhovski initiated coverage on Intuit with a Sector Perform rating and announced a price target of $700.

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