DCOM Dividend

Although DCOM has a dividend of 0.25 with an ex-dividend date of Jan 16, you can sell covered calls on Dime Community Bancshares, Inc. to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Wed 12:35 PM ET):

Dime Community Bancshares, Inc. (DCOM)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
30.04	30.12	30.06	-0.36	27K	28	1.3B

DCOM Dividend-Like Income Using Covered Calls

With DCOM at 30.06, 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%	0.90	0.2
5%	1.50	0.4
10%	3.01	0.8

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 DCOM Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Jan 16	30.00	0.60	17	2.8	0.00 (0.0%)
Jun 18	30.00	1.35	170	0.7	0.00 (0.0%)

5% Yield On DCOM Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Jan 16	30.00	0.60	17	2.8	0.00 (0.0%)
Jun 18	30.00	1.35	170	0.7	0.00 (0.0%)

10% Yield On DCOM Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Jan 16	30.00	0.60	17	2.8	0.00 (0.0%)

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Want more examples? DCO Dividend | DCTH Dividend