PFS Dividend Type Payments
Although PFS has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Provident Financial Services, Inc to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Tue 1:15 PM ET):
| Provident Financial Services, Inc (PFS) | ||||||
|---|---|---|---|---|---|---|
| Bid | Ask | Last | Change | Volume | P/E | Market Cap |
| 20.85 | 20.87 | 20.86 | -0.19 | 213K | 11 | 2.7B |
PFS Dividend-Like Income Using Covered Calls
With PFS at 20.86, 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% | 0.63 | 0.2 |
| 5% | 1.04 | 0.3 |
| 10% | 2.09 | 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:
Want to increase dividends with covered calls? Sign Up For A Free Trial
| Top 10 Open Interest For Dec 19 Expiration | Top 5 High Yield | |||||
|---|---|---|---|---|---|---|
| 1. | NVDA dividend | 6. | TSLA dividend | 1. | HUT dividend | |
| 2. | SPY dividend | 7. | SLV dividend | 2. | SGML dividend | |
| 3. | IBIT dividend | 8. | NFLX dividend | 3. | NNE dividend | |
| 4. | QQQ dividend | 9. | XLF dividend | 4. | KMX dividend | |
| 5. | TLT dividend | 10. | AMZN dividend | 5. | EOSE dividend | |
Want more examples? PFM Dividend | PFSI Dividend
