MUR Dividend

Although MUR has a dividend of 0.33 with an ex-dividend date of Aug 18, you can sell covered calls on Murphy Oil Corporation to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Fri 11:05 AM ET):

Murphy Oil Corporation (MUR)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
23.20	23.23	23.21	-0.01	524K	12	3.3B

MUR Dividend-Like Income Using Covered Calls

With MUR at 23.21, 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 MUR Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Oct 17	25.00	0.90	64	1.4	1.77 (7.6%)
Sep 19	25.00	0.50	36	1.4	1.77 (7.6%)

5% Yield On MUR Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Oct 17	25.00	0.90	64	1.4	1.77 (7.6%)
Sep 19	25.00	0.50	36	1.4	1.77 (7.6%)

10% Yield On MUR Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Oct 17	25.00	0.90	64	1.4	1.77 (7.6%)
Sep 19	25.00	0.50	36	1.4	1.77 (7.6%)

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Want more examples? MUNI Dividend | MUSA Dividend