MAA Dividend

Mid-America Apartment Communities, Inc. dividend

Although MAA has a dividend of 1.53 with an ex-dividend date of Jan 15, you can sell covered calls on Mid-America Apartment Communities, Inc. to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Mon 4:16 PM ET):

Mid-America Apartment Communities, Inc. (MAA)
Bid Ask Last Change Volume P/E Market Cap
133.90 140.28 136.68 +2.45 1.1M 28 16B

MAA Dividend-Like Income Using Covered Calls

With MAA at 136.68, 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% 4.10 1.1
5% 6.83 1.9
10% 13.67 3.7

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 MAA Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Feb 20 140.00 2.05 61 2.9 0.00 (0.0%)
Mar 20 140.00 2.30 89 2.3 0.00 (0.0%)
5% Yield On MAA Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Feb 20 140.00 2.05 61 2.9 0.00 (0.0%)
Mar 20 140.00 2.30 89 2.3 0.00 (0.0%)

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