Meta Platforms, Inc. (META) shares edged slightly higher during Tuesday's trading session, closing up 0.5% at $664.94. While that's nice, some investors are more interested in a different kind of return: cold, hard dividend cash.

On Tuesday, Baird analyst Colin Sebastian kept his Outperform rating on Meta intact but nudged the price target down a notch from $820 to $815, according to market data.

With Meta capturing investor attention lately, it's worth examining what the company's dividend program actually delivers. Right now, Meta offers an annual dividend yield of 0.32%, paying out a quarterly dividend of 52.5 cents per share. That works out to $2.10 per share annually.

So here's the question: how much would you need to invest in Meta to pocket a steady $500 every month from dividends alone?

The answer requires some serious capital. To earn $500 per month, or $6,000 annually from dividends, you'd need an investment of approximately $1,899,734—which translates to around 2,857 shares. If your goals are more modest, say $100 per month or $1,200 per year, you'd still need $379,681 or roughly 571 shares.

Here's the calculation: Take your desired annual income ($6,000 or $1,200) and divide it by Meta's annual dividend payment ($2.10). So $6,000 divided by $2.10 equals 2,857 shares (for $500 monthly), while $1,200 divided by $2.10 equals 571 shares (for $100 monthly).

Keep in mind that dividend yields aren't static. They shift constantly as both the dividend payment and stock price move around over time.

Understanding the mechanics: Dividend yield is calculated by dividing the annual dividend payment by the current stock price.

For instance, imagine a stock pays an annual dividend of $2 and trades at $50. The dividend yield would be 4% ($2 divided by $50). But if that stock price climbs to $60, the yield drops to 3.33% ($2 divided by $60). Conversely, if the price falls to $40, the yield jumps to 5% ($2 divided by $40).

Changes to the dividend payment itself also affect the yield. When a company increases its dividend while the stock price remains steady, the yield rises. Cut the dividend, and the yield falls accordingly.