ARRY Dividend Type Payments

Array Technologies, Inc. dividend

Although ARRY has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Array Technologies, Inc. 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):

Array Technologies, Inc. (ARRY)
Bid Ask Last Change Volume P/E Market Cap
11.55 12.18 11.94 -0.29 3.5M 22 1.8B

ARRY Dividend-Like Income Using Covered Calls

With ARRY at 11.94, 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% 0.36 0.1
5% 0.60 0.2
10% 1.19 0.3

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 ARRY Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
May 17 12.50 0.80 23 3.5 0.32 (2.7%)
Jun 21 12.50 1.20 58 2.1 0.32 (2.7%)
5% Yield On ARRY Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
May 17 12.50 0.80 23 3.5 0.32 (2.7%)
Jun 21 12.50 1.20 58 2.1 0.32 (2.7%)
10% Yield On ARRY Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
May 17 12.50 0.80 23 3.5 0.32 (2.7%)
Jun 21 12.50 1.20 58 2.1 0.32 (2.7%)

Want to increase dividends with covered calls?  Sign Up For A Free Trial

 
 
Top 10 Open Interest For May 17 Expiration     Top 5 High Yield
1.QQQ dividend 6.EEM dividend   1.WOLF dividend
2.HYG dividend 7.KWEB dividend   2.FSLY dividend
3.IWM dividend 8.SLV dividend   3.INTC dividend
4.SPY dividend 9.TSLA dividend   4.GRPN dividend
5.FXI dividend 10.NVDA dividend   5.PENN dividend

Want more examples? ARR Dividend | ARVN Dividend