Dollar General Corporation (DG) is set to release its third-quarter earnings before the market opens on Thursday, December 4. The discount retailer has analysts anticipating quarterly earnings of 95 cents per share, up from 89 cents in the same period last year. Revenue projections sit at $10.64 billion, compared to $10.18 billion a year ago.

The company has a decent track record of exceeding expectations, beating revenue estimates in five of the past ten quarters, including its most recent second-quarter report.

With earnings on the horizon, some investors might be looking beyond the quarterly numbers to focus on Dollar General's dividend potential. Right now, the stock offers an annual dividend yield of 2.14%, paying out 59 cents per share quarterly, which adds up to $2.36 per year.

So let's answer the practical question: What would it actually take to generate $500 in monthly dividend income from Dollar General?

The straightforward calculation: To pocket $500 monthly (or $6,000 annually) from dividends alone, you'd need to invest approximately $279,696, which translates to roughly 2,542 shares. If you're aiming for something more modest—say $100 per month or $1,200 yearly—that requires around $55,895, or about 508 shares.

Here's how the math works: Take your desired annual income ($6,000 or $1,200) and divide it by the annual dividend payment ($2.36). So $6,000 divided by $2.36 equals 2,542 shares for the $500 monthly goal, while $1,200 divided by $2.36 gives you 508 shares for $100 monthly.

Keep in mind that dividend yields aren't static. They shift constantly as both the stock price and dividend payments fluctuate over time.

Understanding the moving parts: Dividend yield is calculated by dividing the annual dividend payment by the current stock price. For instance, if a stock pays a $2 annual dividend and trades at $50, the yield is 4% ($2 divided by $50). But if that stock climbs to $60, the yield drops to 3.33% ($2 divided by $60). Conversely, if the price falls to $40, the yield jumps to 5% ($2 divided by $40).

Changes to the dividend payment itself also affect the yield. When a company increases its dividend while the stock price holds steady, the yield rises. Cut the dividend, and the yield falls accordingly.

Recent price movement: Dollar General shares edged up 0.6% to close at $110.03 on Tuesday.