Investors in The Kroger Co. (NYSE:KR) may be eyeing potential gains from the company's dividends ahead of its first quarter earnings report on Thursday, June 18.

Currently, the supermarket company has an annual dividend yield of 2.18%, with a quarterly dividend amount of 35 cents per share ($1.40 a year).

To figure out how to earn $500 monthly from Kroger, we start with the yearly target of $6,000 ($500 x 12 months).

Next, divide this amount by Kroger's $1.40 dividend: $6,000 / $1.40 = 4,286 shares.

So, an investor would need to own approximately $274,818 worth of Kroger, or 4,286 shares to generate a monthly dividend income of $500.

Assuming a more conservative goal of $100 per month ($1,200 annually), we do the same calculation: $1,200 / $1.40 = 857 shares, or $54,951 in total, to generate a monthly ...