IJK Dividend Type Payments

iShares S&P Mid-Cap 400 Growth ETF dividend

Although IJK has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on iShares S&P Mid-Cap 400 Growth ETF to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Tue 4:16 PM ET):

iShares S&P Mid-Cap 400 Growth ETF (IJK)
Bid Ask Last Change Volume P/E Market Cap
199.42 206.53 202.61 -0.75 169K - 0.0B

IJK Dividend-Like Income Using Covered Calls

With IJK at 202.61, 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% 6.08 1.7
5% 10.13 2.8
10% 20.26 5.6

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 IJK Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Dec 21 210.00 0.25 11 2.3 3.47 (1.7%)
Jan 18 210.00 1.90 39 4.9 3.47 (1.7%)
5% Yield On IJK Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Jan 18 210.00 1.90 39 4.9 3.47 (1.7%)
Mar 15 210.00 4.30 95 4.5 3.47 (1.7%)

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Top 10 Open Interest For Dec 21 Expiration     Top 5 High Yield
1.DUST dividend 6.NSSC dividend   1. dividend
2.NOVT dividend 7.MOD dividend   2. dividend
3.MMS dividend 8.VV dividend   3. dividend
4.VSI dividend 9.EC dividend   4. dividend
5.DXJS dividend 10.NTWK dividend   5. dividend

Want more examples? IJJ Dividend | IJR Dividend