CIA Dividend Type Payments

Although CIA has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Citizens, Inc. Class A ($1.00 Par) to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Wed 3:00 PM ET):

Citizens, Inc. Class A ($1.00 Par) (CIA)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
4.07	4.11	4.08	-0.02	42K	24	0.2B

CIA Dividend-Like Income Using Covered Calls

With CIA at 4.08, 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%	0.12	0.0
5%	0.20	0.1
10%	0.41	0.1

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 CIA Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Aug 15	5.00	0.40	94	0.4	0.89 (21.8%)
Nov 21	7.50	0.30	192	0.2	3.39 (83.1%)

5% Yield On CIA Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Aug 15	5.00	0.40	94	0.4	0.89 (21.8%)
Nov 21	7.50	0.30	192	0.2	3.39 (83.1%)

10% Yield On CIA Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Aug 15	5.00	0.40	94	0.4	0.89 (21.8%)
Nov 21	7.50	0.30	192	0.2	3.39 (83.1%)

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Want more examples? CI Dividend | CIB Dividend