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 Fri 4:16 PM ET):

iShares S&P 500 Value ETF (IVE)
Bid Ask Last Change Volume P/E Market Cap
213.81 214.57 214.19 -0.04 441K - 14B

IVE Dividend-Like Income Using Covered Calls

With IVE at 214.19, 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% 6.43 1.8
5% 10.71 2.9
10% 21.42 5.9

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
Jan 16 215.00 0.60 22 2.7 0.43 (0.2%)
Oct 16 215.00 9.60 295 3.3 0.43 (0.2%)
5% Yield On IVE Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Oct 16 215.00 9.60 295 3.3 0.43 (0.2%)
Apr 17 215.00 4.60 113 4.1 0.43 (0.2%)

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