CP Dividend

Although CP has a dividend of 0.17 with an ex-dividend date of Jun 27, you can sell covered calls on Canadian Pacific Kansas City Limited Common Shares to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Thu 4:16 PM ET):

Canadian Pacific Kansas City Limited Common Shares (CP)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
71.30	73.40	72.73	+0.26	4.4M	26	68B

CP Dividend-Like Income Using Covered Calls

With CP at 72.73, 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%	2.18	0.6
5%	3.64	1.0
10%	7.27	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 CP Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
May 16	75.00	0.30	16	1.9	1.60 (2.2%)
Sep 19	75.00	3.60	142	2.5	1.60 (2.2%)

5% Yield On CP Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
May 16	75.00	0.30	16	1.9	1.60 (2.2%)
Sep 19	75.00	3.60	142	2.5	1.60 (2.2%)

10% Yield On CP Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Sep 19	75.00	3.60	142	2.5	1.60 (2.2%)
Dec 19	75.00	5.30	233	2.3	1.60 (2.2%)

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Top 10 Open Interest For May 16 Expiration				Top 5 High Yield
1.	NVDA dividend	6.	GLD dividend	1.	ZETA dividend
2.	SPY dividend	7.	IWM dividend	2.	XYZ dividend
3.	TLT dividend	8.	FXI dividend	3.	ARDX dividend
4.	SLV dividend	9.	TSLA dividend	4.	ABNB dividend
5.	QQQ dividend	10.	SNAP dividend	5.	QBTS dividend

Want more examples? COWZ Dividend | CPA Dividend