BMA Dividend Type Payments

Banco Macro S.A. ADR (representing Ten Class B Common Shares) dividend

Although BMA has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Banco Macro S.A. ADR (representing Ten Class B Common Shares) to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Fri 2:55 PM ET):

Banco Macro S.A. ADR (representing Ten Class B Common Shares) (BMA)
Bid Ask Last Change Volume P/E Market Cap
87.57 88.01 87.60 -0.68 282K 264 59B

BMA Dividend-Like Income Using Covered Calls

With BMA at 87.60, 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% 2.63 0.7
5% 4.38 1.2
10% 8.76 2.4

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 BMA Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Dec 19 90.00 2.60 15 17.3 1.99 (2.3%)
Jan 16 100.00 1.50 43 3.5 11.99 (13.7%)
5% Yield On BMA Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Dec 19 90.00 2.60 15 17.3 1.99 (2.3%)
Jan 16 100.00 1.50 43 3.5 11.99 (13.7%)
10% Yield On BMA Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Dec 19 90.00 2.60 15 17.3 1.99 (2.3%)
Jan 16 100.00 1.50 43 3.5 11.99 (13.7%)

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