KB Home (NYSE:KBH) will release earnings for its second quarter after the closing bell on Tuesday, June 23. Until then, some investors may be eyeing potential gains from the company's dividends.

Currently, KB Home has an annual dividend yield of 1.88%, a quarterly dividend amount of 25 cents per share ($1.00 a year).

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

Next, divide that amount by KB Home's $1.00 dividend: $6,000 / $1.00 = 6,000 shares.

So, an investor would need to own approximately $319,380 worth of KB Home, or 6,000 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 / $1.00 = 1,200 shares, or $63,876 to generate a monthly dividend income of ...