BLL Dividend

Ball Corp dividend

Although BLL has a dividend of 0.10 with an ex-dividend date of Feb 28, you can sell covered calls on Ball Corp 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):

Ball Corp (BLL)
Bid Ask Last Change Volume P/E Market Cap
54.13 56.68 54.13 -0.82 3.5M 42 19B

BLL Dividend-Like Income Using Covered Calls

With BLL at 54.13, here's a table showing how big the annual "dividend" (ie. 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% 1.62 0.4
5% 2.71 0.7
10% 5.41 1.5

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 BLL Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
May 17 60.00 0.50 92 0.5 3.32 (6.1%)
Aug 16 60.00 1.30 183 0.7 3.32 (6.1%)
5% Yield On BLL Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
May 17 57.50 1.05 92 1.1 0.82 (1.5%)
Aug 16 57.50 2.05 183 1.1 0.82 (1.5%)

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