Shares of Apple Inc. (NASDAQ:AAPL) settled lower after Friday’s session.

Apple is reportedly making a change to its leadership structure by promoting Vanessa Trigub, signaling long-term succession planning for Senior Vice President Deirdre O’Brien. The company has decided to introduce a new position — vice president of stores and retail operations — and name Trigub to the role, according to a report by Bloomberg, citing people with knowledge of the matter.

Trigub, who has been with Apple since 2007 and currently oversees the retail operations in the Americas West region, will now manage global retail store operations and report directly to O’Brien.

With the recent buzz around Apple, some investors may be eyeing potential gains from the company’s dividends too. As of now, Apple offers an annual dividend yield of 0.46%, which is a quarterly dividend amount of $0.25 per share.

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 $1,307,400 or around 6,000 shares. For a more modest $100 per month or $1,200 per year, you would need $261,480 or around 1,200 shares.

To calculate: Divide the desired annual income ($6,000 or $1,200) by the dividend ($1.00 in this case). So, $6,000 / $1.00 = 6,000 ($500 per month), and $1,200 / $1.00 = 1,200 shares ($100 per month).

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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.

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.

AAPL Price Action: Shares of Apple fell 2.7% to close at $217.90 on Friday.

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