IVZ Dividend

Although IVZ has a dividend of 0.21 with an ex-dividend date of Nov 14, you can sell covered calls on Invesco Ltd to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Wed 10:40 AM ET):

Invesco Ltd (IVZ)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
23.22	23.23	23.23	-0.01	368K	25	10B

IVZ Dividend-Like Income Using Covered Calls

With IVZ at 23.23, 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%	0.70	0.2
5%	1.16	0.3
10%	2.32	0.6

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 IVZ Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 19	24.00	0.70	45	1.6	0.77 (3.3%)
Nov 21	24.00	0.15	17	0.9	0.77 (3.3%)

5% Yield On IVZ Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 19	24.00	0.70	45	1.6	0.77 (3.3%)
Nov 21	24.00	0.15	17	0.9	0.77 (3.3%)

10% Yield On IVZ Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 19	24.00	0.70	45	1.6	0.77 (3.3%)
Nov 21	24.00	0.15	17	0.9	0.77 (3.3%)

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Top 10 Open Interest For Nov 21 Expiration				Top 5 High Yield
1.	IBIT dividend	6.	TLT dividend	1.	TTD dividend
2.	KVUE dividend	7.	INTC dividend	2.	LCID dividend
3.	NVDA dividend	8.	ASST dividend	3.	SOUN dividend
4.	SLV dividend	9.	HYG dividend	4.	ENVX dividend
5.	GLD dividend	10.	SPY dividend	5.	CELH dividend

Want more examples? IVW Dividend | IWB Dividend