GNK Dividend Type Payments
Although GNK has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Tue 10:35 AM ET):
| Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) (GNK) | ||||||
|---|---|---|---|---|---|---|
| Bid | Ask | Last | Change | Volume | P/E | Market Cap |
| 21.09 | 21.13 | 21.13 | -0.20 | 77K | - | 0.9B |
GNK Dividend-Like Income Using Covered Calls
With GNK at 21.13, 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% | 0.63 | 0.2 |
| 5% | 1.06 | 0.3 |
| 10% | 2.11 | 0.6 |
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 GNK Using Covered Calls | ||||||
|---|---|---|---|---|---|---|
| Expiration | Strike | Call Bid | Days | Cents/Day | Upside Potential | |
| Feb 20 | 22.50 | 0.15 | 18 | 0.8 | 1.37 (6.5%) | |
| Aug 21 | 22.50 | 0.80 | 200 | 0.4 | 1.37 (6.5%) | |
| 5% Yield On GNK Using Covered Calls | ||||||
|---|---|---|---|---|---|---|
| Expiration | Strike | Call Bid | Days | Cents/Day | Upside Potential | |
| Feb 20 | 22.50 | 0.15 | 18 | 0.8 | 1.37 (6.5%) | |
| Aug 21 | 22.50 | 0.80 | 200 | 0.4 | 1.37 (6.5%) | |
| 10% Yield On GNK Using Covered Calls | ||||||
|---|---|---|---|---|---|---|
| Expiration | Strike | Call Bid | Days | Cents/Day | Upside Potential | |
| Feb 20 | 22.50 | 0.15 | 18 | 0.8 | 1.37 (6.5%) | |
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| Top 10 Open Interest For Feb 20 Expiration | Top 5 High Yield | |||||
|---|---|---|---|---|---|---|
| 1. | SLV dividend | 6. | QQQ dividend | 1. | LITE dividend | |
| 2. | NVDA dividend | 7. | EWZ dividend | 2. | CLSK dividend | |
| 3. | KWEB dividend | 8. | INTC dividend | 3. | SMCI dividend | |
| 4. | GLD dividend | 9. | SPY dividend | 4. | SNAP dividend | |
| 5. | IBIT dividend | 10. | CORZ dividend | 5. | RBLX dividend | |
Want more examples? GNE Dividend | GNL Dividend
