FJP Dividend Type Payments

First Trust Japan AlphaDEX Fund dividend

Although FJP has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on First Trust Japan AlphaDEX Fund to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Wed 2:10 PM ET):

First Trust Japan AlphaDEX Fund (FJP)
Bid Ask Last Change Volume P/E Market Cap
66.97 67.38 67.17 -0.26 6K - 0.2B

FJP Dividend-Like Income Using Covered Calls

With FJP at 67.17, 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% 2.02 0.6
5% 3.36 0.9
10% 6.72 1.8

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:

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Want more examples? FIZZ Dividend | FLAG Dividend