QUAD Dividend Type Payments

Although QUAD has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Quad Graphics, 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 4:16 PM ET):

Quad Graphics, Inc Class A (QUAD)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
4.35	4.78	4.59	-0.04	216K	-	0.2B

QUAD Dividend-Like Income Using Covered Calls

With QUAD at 4.59, 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%	0.14	0.0
5%	0.23	0.1
10%	0.46	0.1

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 QUAD Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
May 17	5.00	0.15	31	0.5	0.22 (4.8%)
Jul 19	5.00	0.25	94	0.3	0.22 (4.8%)

5% Yield On QUAD Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
May 17	5.00	0.15	31	0.5	0.22 (4.8%)
Jul 19	5.00	0.25	94	0.3	0.22 (4.8%)

10% Yield On QUAD Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
May 17	5.00	0.15	31	0.5	0.22 (4.8%)
Jul 19	5.00	0.25	94	0.3	0.22 (4.8%)

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