CFG Dividend Type Payments

Although CFG has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on CITIZENS FINANCIAL GROUP INC to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Mon 10:25 AM ET):

Bid Ask Last Change Volume P/E Market Cap
40.69 40.70 40.70 0.00 272K 11 19B

CFG Dividend-Like Income Using Covered Calls

With CFG at 40.70, 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% 1.22 0.3
5% 2.04 0.6
10% 4.07 1.1

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 CFG Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Jan 18 45.00 0.80 152 0.5 4.30 (10.6%)

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Top 10 Open Interest For Sep 21 Expiration     Top 5 High Yield
1.EEM dividend 6.GE dividend   1.COTY dividend
2.SPY dividend 7.GLD dividend   2.MOMO dividend
3.SPX dividend 8.FB dividend   3.LB dividend
4.QQQ dividend 9.IWM dividend   4.GPS dividend
5.XLF dividend 10.GDX dividend   5.UVXY dividend

Want more examples? CFFN Dividend | CFR Dividend