HIG Dividend

The Hartford Insurance Group, Inc. dividend

Although HIG has a dividend of 0.52 with an ex-dividend date of Sep 2, you can sell covered calls on The Hartford Insurance Group, Inc. to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Wed 4:16 PM ET):

The Hartford Insurance Group, Inc. (HIG)
Bid Ask Last Change Volume P/E Market Cap
121.89 133.00 130.94 +1.92 1.2M 12 36B

HIG Dividend-Like Income Using Covered Calls

With HIG at 130.94, 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% 3.93 1.1
5% 6.55 1.8
10% 13.09 3.6

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 HIG Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Sep 19 135.00 1.10 38 2.9 2.00 (1.5%)
Dec 19 135.00 4.00 129 3.1 2.00 (1.5%)
5% Yield On HIG Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Sep 19 135.00 1.10 38 2.9 2.00 (1.5%)
Dec 19 135.00 4.00 129 3.1 2.00 (1.5%)

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