ENLC Dividend

ENLINK MIDSTREAM LLC dividend

Although ENLC has a dividend of 0.27 with an ex-dividend date of Oct 26, you can sell covered calls on ENLINK MIDSTREAM LLC to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Mon 4:16 PM ET):

ENLINK MIDSTREAM LLC (ENLC)
Bid Ask Last Change Volume P/E Market Cap
15.74 15.75 15.76 -0.29 2.2M 12 2.9B

ENLC Dividend-Like Income Using Covered Calls

With ENLC at 15.76, 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% 0.47 0.1
5% 0.79 0.2
10% 1.58 0.4

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 ENLC Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Dec 21 17.50 0.10 61 0.2 1.75 (11.1%)
Mar 15 17.50 0.35 145 0.2 1.75 (11.1%)
5% Yield On ENLC Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Mar 15 17.50 0.35 145 0.2 1.75 (11.1%)

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