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Suppose that a generic (and over-simplified) XYZ Mutual Fund is made of N stocks of $25 each. Those stocks pay $0.3 dividends over the year. I already know that yield is calculated by dividing the dividends paid by the stock price (source), so:

$0.3 / $25 = $0.012

If I own, for example, 50 shares of XYZ Mutual Fund, is it correct for me to expect

$0.012 * 50 = $0.6

of annual dividends from the fund?

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If the expense ratio of the fund is 0.00% then yes.

However, if the fund has expenses of 1% then if the NAV of the fund is $10/share the expenses would cause you to see only $.002 a share and thus you'd have $.10 in total as the expenses first cut down the yield.

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