MAR Dividend Type Payments

Although MAR has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Marriott International - Class A 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):

Marriott International - Class A (MAR)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
314.57	316.07	315.58	+0.42	634K	33	85B

MAR Dividend-Like Income Using Covered Calls

With MAR at 315.58, 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%	9.47	2.6
5%	15.78	4.3
10%	31.56	8.6

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 MAR Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Jan 2	317.50	1.20	8	15.0	1.43 (0.5%)
Jan 9	315.00	4.40	15	22.2	0.00 (0.0%)

5% Yield On MAR Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Jan 2	317.50	1.20	8	15.0	1.43 (0.5%)
Jan 9	315.00	4.40	15	22.2	0.00 (0.0%)

10% Yield On MAR Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Jan 2	317.50	1.20	8	15.0	1.43 (0.5%)
Jan 9	315.00	4.40	15	22.2	0.00 (0.0%)

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