MKC Dividend Type Payments

Mccormick & Co, Inc dividend

Although MKC has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Mccormick & Co, 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):

Mccormick & Co, Inc (MKC)
Bid Ask Last Change Volume P/E Market Cap
138.00 145.00 140.71 +0.72 662K - 19B

MKC Dividend-Like Income Using Covered Calls

With MKC at 140.71, 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% 4.22 1.2
5% 7.04 1.9
10% 14.07 3.9

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 MKC Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Apr 18 150.00 0.65 32 2.0 5.00 (3.6%)
Jun 21 150.00 2.00 96 2.1 5.00 (3.6%)
5% Yield On MKC Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Apr 18 150.00 0.65 32 2.0 5.00 (3.6%)
Jun 21 150.00 2.00 96 2.1 5.00 (3.6%)
10% Yield On MKC Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Apr 18 145.00 1.85 32 5.8 0.00 (0.0%)

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