If it's some welcome extra passive income you're after, you may want to have a look into Woodside Energy Group Ltd (ASX: WDS) shares.
Atop from its potential for capital gains, the S&P/ASX 200 Index (ASX: XJO) oil and gas stock has long been popular with income investors for its 10-year-plus track record of paying two fully-franked dividends a year.
Speaking of those capital gains, in afternoon trade on Friday, Woodside shares are changing hands for $32.59 apiece. That sees the Woodside share price up 37.4% in 2026.
As for how many shares you might need to buy to bag an extra $1,000 a month in passive income, we'll look at that below.
But first…
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A few important reminders
The first thing to keep in mind when you're on the hunt for passive income is that the yields you generally see quoted are trailing yields. Future yields may be higher or lower depending on a range of company specific and macroeconomic factors.
For Woodside, I'd expect investors may see an uplift in the upcoming interim dividend. That's based on the company's 28% quarter-on-quarter operating revenue increase, which came out to US$4.185 billion in the June quarter. Woodside also enjoyed a 35% increase in the average realised price it received, which climbed to US$85 per barrel of oil equivalent (boe) in the June quarter.
But we won't speculate on the upcoming dividend, and stick to the trailing yields here.
Also bear mind that while we're only looking at Woodside shares here, a properly diversified passive income portfolio will contain a lot more than just one stock. While there's no magic number, 10 to 15 is a decent ballpark figure, ideally operating in various sectors and locations. This will reduce the risk of your income stream taking a big hit if any single sector or company hits a rough patch.
With that said…
Drilling into Woodside shares for passive income
If you're looking to bank $1,000 a month, that works out to $12,000 a year in dividend payouts.
Looking at the past year, Woodside paid a fully-franked interim dividend of 81.8 cents per share on 24 September. And the ASX 200 energy stock paid the final fully-franked dividend of 83.5 cents per share on 27 March.
That equates to a full-year payout of $1.653 a share.
Based on the trailing yield then, for a $1,000 a month in passive income (paid out twice yearly), you'd need to buy 7,260 Woodside shares today.
How much would that cost?
At the current Woodside share price, 7,260 shares would cost $236,603.
Now, that's a big chunk to invest at one time.
But that's okay.
Investing is a long game. You can always buy a smaller number of Woodside shares on a regular basis, and you'll reach your $1,000 monthly passive income goal in good time.
