In the past, Qantas Airways Limited (ASX: QAN) shares have been a popular option for passive income investors.
The airline operator's shares traditionally provided them with a decent dividend yield each year.
However, because of the COVID pandemic, it has now been over four years since the Flying Kangaroo's shareholders received a payout.
But with Qantas well and truly returning to form last year and delivering a record profit result, could passive income be on the cards again in the near future? Let's have a look and find out.
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How much passive income could $10,000 of Qantas shares provide?
Let's first buy those Qantas shares. With a $10,000 investment, you would end up owning approximately 1,848 units based on current prices.
Now onto the income.
The market appears undecided on whether Qantas will make it five years in a row with no dividends in FY 2024.
One broker has a 10 cents per share dividend estimate, but the rest seem to believe it will keep its powder dry until the year after.
But if Qantas were to pay a 10 cents per share dividend, your investment would provide a passive income of $184.80.
While that is not much to get excited about, it could be worth holding tightly to those shares. That's because Goldman Sachs is forecasting a 30 cents per share dividend in both FY 2025 and FY 2026.
That equates to a 5.5% dividend yield for both years and would mean a nice income boost of $554.40 each year.
But the returns won't stop there if Goldman is on the money with its recommendation.
It currently has a conviction buy rating and a $8.25 price target on Qantas' shares. This values those 1,848 units at $15,246, which is over $5,000 more than you would have paid for them.
Not a bad return if you ask me!
