General Mills, Inc. (NYSE:GIS) will release first-quarter earnings before the opening bell on Wednesday, Sept. 23.

Until then, some investors may be eyeing potential dividend gains. Currently, General Mills has an annual dividend yield of 6.72% and a quarterly dividend of 61 cents per share ($2.44 a year).

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

Next, we divide that amount by General Mills’ $2.44 dividend: $6,000 / $2.44 = 2,459 shares.

So, an investor would need to own approximately $89,311 worth of GIS, or 2,459 shares to generate a monthly dividend income of $500.

Assuming a more conservative goal of $100 monthly ($1,200 annually), we do the same calculation: $1,200 / $2.44 = 492 shares, or $17,869 to generate a monthly dividend income of $100.

Note that dividend yield can change on a rolling basis; dividend payments and stock prices fluctuate over time.

The dividend yield is calculated by dividing the annual dividend payment by the current stock price. As the stock price changes, the dividend yield will also change.

For example, if a stock pays an annual dividend of $2 and its current price is $50, its dividend yield would be 4%. However, if the stock price increases to $60, the dividend yield would decrease to 3.33% ($2/$60).

Conversely, if the stock price decreases to $40, the dividend yield would increase to 5% ($2/$40).

Further, the dividend payment itself can also change over time. This can impact the dividend yield. If a company increases its dividend payment, the dividend yield will increase even if the stock price remains the same. Similarly, if a company decreases its dividend payment, the dividend yield will decrease.

See More: Top Value Stocks

General Mills Price Action:

General Mills shares fell 0.9% to close at $36.32 on Friday.

Analysts expect the packaged food and breakfast cereal company to report quarterly earnings of 72 cents per share. That’s down from 86 cents per share a year ago. The consensus estimate for General Mills’ quarterly revenue is $4.35 billion. It reported $4.52 billion last year, according to Benzinga Pro.

On Sept. 8, General Mills affirmed its FY2027 adjusted EPS guidance of $3.00-$3.20.

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