CPA Dividend

COPA HOLDINGS SA dividend

Although CPA has a dividend of 0.87 with an ex-dividend date of Aug 30, you can sell covered calls on COPA HOLDINGS SA 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):

COPA HOLDINGS SA (CPA)
Bid Ask Last Change Volume P/E Market Cap
81.50 92.93 86.71 -1.95 417K 10 3.7B

CPA Dividend-Like Income Using Covered Calls

With CPA at 86.71, 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% 2.60 0.7
5% 4.34 1.2
10% 8.67 2.4

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 CPA Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Nov 16 100.00 1.05 93 1.1 7.07 (8.2%)
Feb 15 105.00 1.65 184 0.9 12.07 (13.9%)
5% Yield On CPA Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Nov 16 95.00 1.90 93 2.0 2.07 (2.4%)
Feb 15 95.00 3.80 184 2.1 2.07 (2.4%)

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