AQN Dividend Type Payments

Although AQN has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Algonquin Power & Utilities Corp. Common Shares to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Thu 4:16 PM ET):

Algonquin Power & Utilities Corp. Common Shares (AQN)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
6.36	6.62	6.50	+0.25	16.8M	208	1.6B

AQN Dividend-Like Income Using Covered Calls

With AQN at 6.50, here's a table showing how big the annual "dividend" (i.e. total annual call premium received) would need to be to attain 3%, 5%, and 10% annual yields. Also shown is the equivalent number of cents/day necessary to achieve each yield:

Annual Yield	Annual Premium	Cents/Day
3%	0.20	0.1
5%	0.33	0.1
10%	0.65	0.2

So now we need to find out of the money covered calls that pay at least the prescribed cents/day amount of time premium. That will generate income and, because they are out of the money, leave room for some upside potential on the stock. Here are some examples:

3% Yield On AQN Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Oct 18	7.50	0.20	170	0.1	0.88 (13.5%)
Jul 19	7.50	0.05	79	0.1	0.88 (13.5%)

5% Yield On AQN Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Oct 18	7.50	0.20	170	0.1	0.88 (13.5%)
Jun 21	7.50	0.05	51	0.1	0.88 (13.5%)

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