3M Company will release earnings for its second quarter before the opening bell on Tuesday, July 21. Next, we take this amount and divide it by 3M's $3.12 dividend: $6,000 / $3.12 = 1,923 shares. The dividend yield is calculated by dividing the annual dividend payment by the current stock price. 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.