IVE Dividend Type Payments

iShares S&P 500 Value ETF dividend

Although IVE has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on iShares S&P 500 Value ETF 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):

iShares S&P 500 Value ETF (IVE)
Bid Ask Last Change Volume P/E Market Cap
187.77 196.04 192.51 -0.62 357K - 13B

IVE Dividend-Like Income Using Covered Calls

With IVE at 192.51, 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% 5.78 1.6
5% 9.63 2.6
10% 19.25 5.3

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 IVE Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Aug 15 196.00 1.10 52 2.0 0.00 (0.0%)
Oct 17 196.00 3.00 115 2.6 0.00 (0.0%)
5% Yield On IVE Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Oct 17 197.00 3.50 115 3.0 0.96 (0.5%)
Jan 16 196.00 6.40 206 3.1 0.00 (0.0%)

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Want more examples? IUSV Dividend | IVES Dividend