IEX Dividend

IDEX Corporation dividend

Although IEX has a dividend of 0.71 with an ex-dividend date of Jul 11, you can sell covered calls on IDEX Corporation to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Mon 4:16 PM ET):

IDEX Corporation (IEX)
Bid Ask Last Change Volume P/E Market Cap
155.55 176.50 175.57 -0.75 900K 28 13B

IEX Dividend-Like Income Using Covered Calls

With IEX at 175.57, 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% 5.27 1.4
5% 8.78 2.4
10% 17.56 4.8

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 IEX Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Aug 15 180.00 1.80 47 3.8 3.50 (2.0%)
Oct 17 180.00 5.00 110 4.5 3.50 (2.0%)
5% Yield On IEX Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Aug 15 180.00 1.80 47 3.8 3.50 (2.0%)
Oct 17 180.00 5.00 110 4.5 3.50 (2.0%)

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