BJRI Dividend Type Payments

BJ's Restaurants, Inc. dividend

Although BJRI has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on BJ's Restaurants, Inc. to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Fri 4:16 PM ET):

BJ's Restaurants, Inc. (BJRI)
Bid Ask Last Change Volume P/E Market Cap
42.85 45.80 44.67 -0.26 724K 47 1.0B

BJRI Dividend-Like Income Using Covered Calls

With BJRI at 44.67, 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% 1.34 0.4
5% 2.23 0.6
10% 4.47 1.2

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 BJRI Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Aug 15 47.50 0.30 50 0.6 1.70 (3.8%)
Oct 17 47.50 1.15 113 1.0 1.70 (3.8%)
5% Yield On BJRI Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Oct 17 47.50 1.15 113 1.0 1.70 (3.8%)
Dec 19 47.50 2.35 176 1.3 1.70 (3.8%)
10% Yield On BJRI Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Dec 19 47.50 2.35 176 1.3 1.70 (3.8%)
Jan 16 47.50 3.40 204 1.7 1.70 (3.8%)

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