BNS Dividend

Although BNS has a dividend of 0.79 with an ex-dividend date of Jan 6, you can sell covered calls on Bank Nova Scotia Halifax Pfd 3 Ordinary Shares 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):

Bank Nova Scotia Halifax Pfd 3 Ordinary Shares (BNS)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
72.74	74.50	74.17	+0.09	536K	18	89B

BNS Dividend-Like Income Using Covered Calls

With BNS at 74.17, 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%	2.23	0.6
5%	3.71	1.0
10%	7.42	2.0

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 BNS Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Jan 16	75.00	0.20	22	0.9	0.50 (0.7%)
Jun 18	75.00	2.60	175	1.5	0.50 (0.7%)

5% Yield On BNS Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Jun 18	75.00	2.60	175	1.5	0.50 (0.7%)
Feb 20	75.00	0.95	57	1.7	0.50 (0.7%)

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Want more examples? BNO Dividend | BNTX Dividend