AQN Dividend
Although AQN has a dividend of 0.07 with an ex-dividend date of Jun 30, 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 Tue 11:30 AM ET):
| Algonquin Power & Utilities Corp. Common Shares (AQN) | ||||||
|---|---|---|---|---|---|---|
| Bid | Ask | Last | Change | Volume | P/E | Market Cap |
| 5.76 | 5.77 | 5.76 | -0.08 | 2.4M | - | 1.5B |
AQN Dividend-Like Income Using Covered Calls
With AQN at 5.76, 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% | 0.17 | 0.0 |
| 5% | 0.29 | 0.1 |
| 10% | 0.58 | 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:
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| Top 10 Open Interest For Jun 20 Expiration | Top 5 High Yield | |||||
|---|---|---|---|---|---|---|
| 1. | NVDA dividend | 6. | GLD dividend | 1. | ALT dividend | |
| 2. | SPY dividend | 7. | IWM dividend | 2. | CAPR dividend | |
| 3. | QQQ dividend | 8. | TLT dividend | 3. | COGT dividend | |
| 4. | TSLA dividend | 9. | AAPL dividend | 4. | QUBT dividend | |
| 5. | SLV dividend | 10. | INTC dividend | 5. | BBAI dividend | |
Want more examples? AQMS Dividend | AQST Dividend
