LLL Dividend

L3 Technologies, Inc dividend

Although LLL has a dividend of 0.85 with an ex-dividend date of Feb 28, you can sell covered calls on L3 Technologies, Inc 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):

L3 Technologies, Inc (LLL)
Bid Ask Last Change Volume P/E Market Cap
203.25 218.88 212.24 +3.20 341K 16 16B

LLL Dividend-Like Income Using Covered Calls

With LLL at 212.24, 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% 6.37 1.7
5% 10.61 2.9
10% 21.22 5.8

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 LLL Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Apr 18 220.00 1.70 63 2.7 1.12 (0.5%)
Jul 19 230.00 3.80 155 2.5 11.12 (5.2%)
5% Yield On LLL Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Jul 19 220.00 7.40 155 4.8 1.12 (0.5%)

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