RCL Dividend

Although RCL has a dividend of 1.00 with an ex-dividend date of Dec 26, you can sell covered calls on D/B/A Royal Caribbean Cruises Ltd. to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Tue 4:16 PM ET):

D/B/A Royal Caribbean Cruises Ltd. (RCL)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
291.00	293.00	292.29	-8.44	1.7M	20	82B

RCL Dividend-Like Income Using Covered Calls

With RCL at 292.29, 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%	8.77	2.4
5%	14.61	4.0
10%	29.23	8.0

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 RCL Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 26	292.50	2.15	4	41.3	0.00 (0.0%)
Jan 2	292.50	5.05	11	41.4	0.00 (0.0%)

5% Yield On RCL Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 26	292.50	2.15	4	41.3	0.00 (0.0%)
Jan 2	292.50	5.05	11	41.4	0.00 (0.0%)

10% Yield On RCL Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 26	292.50	2.15	4	41.3	0.00 (0.0%)
Jan 2	292.50	5.05	11	41.4	0.00 (0.0%)

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