Here's How Many Shares of Procter & Gamble You'd Need for $10,000 in Yearly Dividends.

In the court of Dividend Kings, or those companies that have raised payouts in at least 50 consecutive years, Procter & Gamble (NYSE: PG) is in fact royalty. With a streak of 71 dividend increases, this consumer staples stock is royalty among royalty.

It's tied with four other stocks for the second-longest run of dividend increases in Corporate America. Only American States Water, at 73 years, beats the quintet, of which Procter & Gamble is a part. While talking numbers, the Tide maker yields nearly 3%, and its annual payout is $4.36 a share.

In dollar terms, P&G's payout is stout, even among blue chip dividend stocks. But for investors who generate $10,000 in cash checks annually from this stock, that goal is capital-intensive. It's essentially a foregone conclusion that the Dawn maker will continue raising its dividend. Still, assuming no future payout growth, based on the current dividend of $4.36 per share, an investor would need 2,293.5 shares of P&G to reach $10,000 in dividend income.

Based on the stock's Aug. 7 closing price of $145.79, 2,293.5 shares cost $334,380. That's a lot of dough. It's far above the median home price in a slew of states. In that context, many investors may find it daunting, if not impossible, to ever reach the five-figure payout club from P&G alone.

Those market participants can take heart in some important facts. First, if history repeats with consumer staples stocks, the shares could again prove to be a better bet than the sector at large or high-quality bonds. Due to the sector's defensive traits and, broadly speaking, consistent dividends, consumer staples are often viewed as bond proxies.

PG Total Return Level data by YCharts

Second, P&G's dividend is highly likely to continue growing over the long term, so investors who can get involved with the stock today and let the payouts compound may be able to realize a "shortcut" to $10,000 in yearly payouts down the road.

Third, P&G's dividend growthoften beats inflation, so even without reaching $10,000 in annual dividends, investors gain some inflation protection with this stock.

Todd Shriber has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.