GTY Dividend
Although GTY has a dividend of 0.47 with an ex-dividend date of Sep 25, you can sell covered calls on Getty Realty Corporation 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):
| Getty Realty Corporation (GTY) | ||||||
|---|---|---|---|---|---|---|
| Bid | Ask | Last | Change | Volume | P/E | Market Cap |
| 28.00 | 28.85 | 28.24 | -0.25 | 248K | 25 | 1.6B |
GTY Dividend-Like Income Using Covered Calls
With GTY at 28.24, 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% | 0.85 | 0.2 |
| 5% | 1.41 | 0.4 |
| 10% | 2.82 | 0.8 |
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:
| 3% Yield On GTY Using Covered Calls | ||||||
|---|---|---|---|---|---|---|
| Expiration | Strike | Call Bid | Days | Cents/Day | Upside Potential | |
| Dec 19 | 30.00 | 0.25 | 99 | 0.3 | 1.15 (4.1%) | |
| Mar 20 | 30.00 | 0.45 | 190 | 0.2 | 1.15 (4.1%) | |
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| Top 10 Open Interest For Sep 19 Expiration | Top 5 High Yield | |||||
|---|---|---|---|---|---|---|
| 1. | NVDA dividend | 6. | QQQ dividend | 1. | ATYR dividend | |
| 2. | SPY dividend | 7. | IBIT dividend | 2. | OPEN dividend | |
| 3. | IWM dividend | 8. | SLV dividend | 3. | IONQ dividend | |
| 4. | PCG dividend | 9. | TSLA dividend | 4. | QURE dividend | |
| 5. | EEM dividend | 10. | FXI dividend | 5. | ARCT dividend | |
Want more examples? GTO Dividend | GUNR Dividend
