GIL Dividend

Although GIL has a dividend of 0.23 with an ex-dividend date of Nov 19, you can sell covered calls on Gildan Activewear, Inc. Class A Sub. Vot. to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Fri 4:16 PM ET):

Gildan Activewear, Inc. Class A Sub. Vot. (GIL)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
55.00	56.06	55.39	-0.35	584K	18	12B

GIL Dividend-Like Income Using Covered Calls

With GIL at 55.39, 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%	1.66	0.5
5%	2.77	0.8
10%	5.54	1.5

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 GIL Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 19	62.50	0.25	43	0.6	6.44 (11.6%)
Dec 18	57.50	3.50	407	0.9	1.44 (2.6%)

5% Yield On GIL Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 18	57.50	3.50	407	0.9	1.44 (2.6%)
Mar 20	57.50	1.95	134	1.5	1.44 (2.6%)

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Want more examples? GIII Dividend | GILD Dividend