BMY Dividend Type Payments

Bristol-Myers Squibb Company dividend

Although BMY has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Bristol-Myers Squibb Company to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Wed 10:40 AM ET):

Bristol-Myers Squibb Company (BMY)
Bid Ask Last Change Volume P/E Market Cap
46.26 46.27 46.27 -0.80 2.2M - 96B

BMY Dividend-Like Income Using Covered Calls

With BMY at 46.27, 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% 1.39 0.4
5% 2.31 0.6
10% 4.63 1.3

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 BMY Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Dec 5 46.50 1.38 17 8.1 0.23 (0.5%)
Dec 12 47.00 1.43 24 6.0 0.73 (1.6%)
5% Yield On BMY Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Dec 5 46.50 1.38 17 8.1 0.23 (0.5%)
Dec 12 47.00 1.43 24 6.0 0.73 (1.6%)
10% Yield On BMY Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Dec 5 46.50 1.38 17 8.1 0.23 (0.5%)
Dec 12 47.00 1.43 24 6.0 0.73 (1.6%)

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