BNS Dividend

Although BNS has a dividend of 0.79 with an ex-dividend date of Oct 7, 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 Thu 10:25 AM ET):

Bank Nova Scotia Halifax Pfd 3 Ordinary Shares (BNS)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
64.56	64.57	64.55	-0.09	155K	17	78B

BNS Dividend-Like Income Using Covered Calls

With BNS at 64.55, 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%	1.94	0.5
5%	3.23	0.9
10%	6.46	1.8

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
Oct 17	65.00	0.65	30	2.2	0.43 (0.7%)
Dec 19	65.00	1.60	93	1.7	0.43 (0.7%)

5% Yield On BNS Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Oct 17	65.00	0.65	30	2.2	0.43 (0.7%)
Dec 19	65.00	1.60	93	1.7	0.43 (0.7%)

10% Yield On BNS Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Oct 17	65.00	0.65	30	2.2	0.43 (0.7%)
Nov 21	65.00	1.15	65	1.8	0.43 (0.7%)

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Want more examples? BNO Dividend | BNTX Dividend