GNR Dividend Type Payments

SPDR S&P Global Natural Resources ETF dividend

Although GNR has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on SPDR S&P Global Natural Resources ETF to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Mon 11:15 AM ET):

SPDR S&P Global Natural Resources ETF (GNR)
Bid Ask Last Change Volume P/E Market Cap
46.44 46.48 46.46 +0.37 14K - 0.0B

GNR Dividend-Like Income Using Covered Calls

With GNR at 46.46, 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% 1.39 0.4
5% 2.32 0.6
10% 4.65 1.3

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:

3% Yield On GNR Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Apr 18 47.00 0.15 32 0.5 0.52 (1.1%)
Jun 21 47.00 0.45 96 0.5 0.52 (1.1%)

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