CHFC Dividend

CHEMICAL FINANCIAL dividend

Although CHFC has a dividend of 0.34 with an ex-dividend date of Sep 6, you can sell covered calls on CHEMICAL FINANCIAL 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):

CHEMICAL FINANCIAL (CHFC)
Bid Ask Last Change Volume P/E Market Cap
57.94 57.94 57.94 -0.21 259K 22 4.2B

CHFC Dividend-Like Income Using Covered Calls

With CHFC at 57.94, 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% 1.74 0.5
5% 2.90 0.8
10% 5.79 1.6

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 CHFC Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Sep 21 60.00 0.50 36 1.4 2.06 (3.6%)
Dec 21 60.00 1.85 127 1.5 2.06 (3.6%)
5% Yield On CHFC Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Sep 21 60.00 0.50 36 1.4 2.06 (3.6%)
Dec 21 60.00 1.85 127 1.5 2.06 (3.6%)

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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.LB dividend
3.SPX dividend 8.FB dividend   3.AKRX dividend
4.QQQ dividend 9.IWM dividend   4.UVXY dividend
5.XLF dividend 10.GDX dividend   5.GPS dividend

Want more examples? CHEP Dividend | CHFN Dividend