ARES Dividend

Although ARES has a dividend of 1.12 with an ex-dividend date of Sep 16, you can sell covered calls on Ares Management Corporation Class A to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Tue 4:16 PM ET):

Ares Management Corporation Class A (ARES)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
175.88	188.25	187.98	-0.57	1.6M	86	61B

ARES Dividend-Like Income Using Covered Calls

With ARES at 187.98, 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%	5.64	1.5
5%	9.40	2.6
10%	18.80	5.2

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 ARES Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Aug 15	190.00	2.80	11	25.5	1.75 (0.9%)
Sep 19	190.00	7.00	46	15.2	1.75 (0.9%)

5% Yield On ARES Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Aug 15	190.00	2.80	11	25.5	1.75 (0.9%)
Sep 19	190.00	7.00	46	15.2	1.75 (0.9%)

10% Yield On ARES Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Aug 15	190.00	2.80	11	25.5	1.75 (0.9%)
Sep 19	190.00	7.00	46	15.2	1.75 (0.9%)

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Want more examples? ARE Dividend | ARGT Dividend