PBF Dividend Type Payments

PBF Energy Inc. Class A dividend

Although PBF has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on PBF Energy Inc. Class A to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Wed 2:00 PM ET):

PBF Energy Inc. Class A (PBF)
Bid Ask Last Change Volume P/E Market Cap
23.30 23.34 23.30 -1.09 2.8M - 2.8B

PBF Dividend-Like Income Using Covered Calls

With PBF at 23.30, 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% 1.17 0.3
10% 2.33 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 PBF Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Aug 15 24.00 0.15 59 0.3 0.66 (2.8%)
Jul 18 24.00 1.00 31 3.2 0.66 (2.8%)
5% Yield On PBF Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Jul 18 24.00 1.00 31 3.2 0.66 (2.8%)
Sep 19 24.00 1.00 94 1.1 0.66 (2.8%)
10% Yield On PBF Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Jul 18 24.00 1.00 31 3.2 0.66 (2.8%)
Sep 19 24.00 1.00 94 1.1 0.66 (2.8%)

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