PG Dividend Type Payments

Although PG has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Procter & Gamble Company (The) to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Fri 10:30 AM ET):

Procter & Gamble Company (The) (PG)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
160.99	161.02	161.00	+1.02	1.5M	25	375B

PG Dividend-Like Income Using Covered Calls

With PG at 161.00, 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%	4.83	1.3
5%	8.05	2.2
10%	16.10	4.4

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 PG Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Jun 6	165.00	2.05	36	5.7	3.98 (2.5%)
May 9	162.50	0.94	8	11.8	1.48 (0.9%)

5% Yield On PG Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Jun 6	165.00	2.05	36	5.7	3.98 (2.5%)
May 9	162.50	0.94	8	11.8	1.48 (0.9%)

10% Yield On PG Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Jun 6	165.00	2.05	36	5.7	3.98 (2.5%)
May 9	162.50	0.94	8	11.8	1.48 (0.9%)

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