NGG Dividend Type Payments

Although NGG has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on National Grid Transco, PLC National Grid PLC (NEW) American Depositary S to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Fri 12:00 PM ET):

National Grid Transco, PLC National Grid PLC (NEW) American Depositary S (NGG)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
66.48	66.51	66.50	-0.26	116K	-	33B

NGG Dividend-Like Income Using Covered Calls

With NGG at 66.50, 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%	2.00	0.5
5%	3.33	0.9
10%	6.65	1.8

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 NGG Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Jun 21	70.00	0.40	57	0.7	3.49 (5.2%)
Dec 20	70.00	1.70	239	0.7	3.49 (5.2%)

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