FLIC Dividend Type Payments
Although FLIC has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on The First of Long Island Corporation to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Thu 9:50 AM ET):
| The First of Long Island Corporation (FLIC) | ||||||
|---|---|---|---|---|---|---|
| Bid | Ask | Last | Change | Volume | P/E | Market Cap |
| 10.46 | 10.50 | 10.46 | -0.21 | 6K | 9.2 | 0.2B |
FLIC Dividend-Like Income Using Covered Calls
With FLIC at 10.46, 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% | 0.31 | 0.1 |
| 5% | 0.52 | 0.1 |
| 10% | 1.05 | 0.3 |
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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| Top 10 Open Interest For May 17 Expiration | Top 5 High Yield | |||||
|---|---|---|---|---|---|---|
| 1. | QQQ dividend | 6. | EEM dividend | 1. | SNAP dividend | |
| 2. | HYG dividend | 7. | KWEB dividend | 2. | FSLY dividend | |
| 3. | IWM dividend | 8. | SLV dividend | 3. | WOLF dividend | |
| 4. | SPY dividend | 9. | TSLA dividend | 4. | CLSK dividend | |
| 5. | FXI dividend | 10. | NVDA dividend | 5. | PENN dividend | |
Want more examples? FLHK Dividend | FLIN Dividend
