PH Dividend Type Payments

Although PH has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Parker-Hannifin Corporation to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Fri 4:16 PM ET):

Parker-Hannifin Corporation (PH)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
843.00	852.00	844.01	+11.66	975K	31	106B

PH Dividend-Like Income Using Covered Calls

With PH at 844.01, 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%	25.32	6.9
5%	42.20	11.6
10%	84.40	23.1

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 PH Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 19	850.00	24.00	43	51.2	0.00 (0.0%)
Nov 21	860.00	9.30	15	62.0	8.00 (0.9%)

5% Yield On PH Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 19	850.00	24.00	43	51.2	0.00 (0.0%)
Nov 21	860.00	9.30	15	62.0	8.00 (0.9%)

10% Yield On PH Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 19	850.00	24.00	43	51.2	0.00 (0.0%)
Nov 21	860.00	9.30	15	62.0	8.00 (0.9%)

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Top 10 Open Interest For Nov 21 Expiration				Top 5 High Yield
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5.	GLD dividend	10.	HYG dividend	5.	BE dividend

Want more examples? PGX Dividend | PHAT Dividend