ARES Dividend

Although ARES has a dividend of 1.12 with an ex-dividend date of Dec 17, 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
172.50	173.61	173.61	+0.93	2.8M	-	56B

ARES Dividend-Like Income Using Covered Calls

With ARES at 173.61, 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%	5.21	1.4
5%	8.68	2.4
10%	17.36	4.8

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
Dec 19	175.00	0.80	4	20.0	1.39 (0.8%)
Jan 16	175.00	4.50	32	14.1	1.39 (0.8%)

5% Yield On ARES Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 19	175.00	0.80	4	20.0	1.39 (0.8%)
Jan 16	175.00	4.50	32	14.1	1.39 (0.8%)

10% Yield On ARES Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 19	175.00	0.80	4	20.0	1.39 (0.8%)
Jan 16	175.00	4.50	32	14.1	1.39 (0.8%)

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