I am looking at a stock with a dividend of $2.67/5.66%. Do I make 5.66% off of my total investment?

Typically, when you see a percentage figure when it applies to a stock, it refers to "dividend yield." That is just a comparison of the dollar amount of the dividend you receive divided by the actual price of the stock at any one given time. Of course, as the price of the stock changes, the yield changes with it (although the dividend usually stays fairly constant until the company increases or decreases it).

Dividend yield is a useful tool in some cases to determine the income profitability of a stock. You tend to have a little more "safety" with higher dividend stocks given that, regardless of whether the stock goes up or down, you still have a pretty good assurance that you'll get your dividend either way. Although I don't PURELY focus on dividends in terms of picking stocks, it can be one tool in the bag to help narrow your search for a good stock portfolio.

No, you do not make 5.66% of your investment. The 2.67 dividend amount is 5.66% of the stock's price. The stock can be said to have a "yield" of 5.66, which is a pretty good yield. But if $2.67 is 5.66 of the stock's price, then the stock must be priced at $47.01.

Think of the $2.67 dividend the company pays you as a kind of bonus, or gratuity, the company pays its shareholders. You get this bonus once a year regardless of what happens to the stocks price, which may go up or down, but you still get the $2.67 per share you own.

Also note that the yield will fluctuate in accordance with the stocks price/value. If the yield amount goes up, then the price of the stock must have gone down, because the $2.67 is then a greater percentage of the stocks price.

Dividends and yields though do not have anything to do with the performance of the stock. If you want to know what your earnings will be, look at the difference in the stock price from year to year, or day to day, or whatever time frame you like. For example, if the stock went up from 47.01 to say 47.95, a gain of .94, that would be a 2% gain on your investment