If I buy $10,000 of AMP shares right now, how much passive income will I receive?
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Throughout the years, AMP Ltd (ASX: AMP) stocks have gained popularity among investors seeking steady income.
The financial institution would consistently distribute a significant portion of its earnings to its shareholders annually.
Nevertheless, a major decline in its overall success in recent times, caused in part by the Royal Commission, has resulted in the cessation of its dividend payments.
Fortunately, there is positive news to share, as AMP has reintroduced dividends for investors. Moreover, it seems that the upcoming period of FY 2023 could be quite promising for those seeking a stable source of passive income.
However, what if you were to allocate $10,000 towards AMP stocks at this very moment?
To begin with, if you decided to put $10,000 into AMP stocks, you would acquire a total of 8,850 shares based on the current market value.
Based on a report from Citi, experts predict that AMP will distribute a dividend of 3 cents per share in the fiscal year 2023.
This implies that individuals who invest $10,000 in the financial services firm will earn an annual passive revenue of approximately $266. Although this might not seem like a significant amount to be enthusiastic about, it might be beneficial to remain invested for the potential of future gains.
As an illustration, Citi anticipates a twofold increase in AMP's dividend to reach 6 cents per share in the fiscal year 2024. Consequently, this would lead to a dividend yield of 5.3% at present prices, resulting in an income of $530.
And if you continue to hold onto your investments until FY 2025, then Citi is confident that you will receive even more rewards. According to their analysts' predictions, there will be a dividend of 8 cents per share. This equates to a dividend yield of 7.1%, resulting in an estimated passive income of around $710.
In conclusion, if Citi's predictions are accurate, a $10,000 investment at the present prices may yield approximately $1,500 in earnings within the next three years.
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