SBAC Dividend

Although SBAC has a dividend of 1.11 with an ex-dividend date of May 22, you can sell covered calls on SBA Communications Corporation - Class A to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Mon 4:16 PM ET):

SBA Communications Corporation - Class A (SBAC)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
205.00	236.25	235.51	+2.43	514K	31	25B

SBAC Dividend-Like Income Using Covered Calls

With SBAC at 235.51, 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%	7.07	1.9
5%	11.78	3.2
10%	23.55	6.5

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 SBAC Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Jul 18	240.00	6.30	61	10.3	3.75 (1.6%)
Sep 19	240.00	9.90	124	8.0	3.75 (1.6%)

5% Yield On SBAC Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Jul 18	240.00	6.30	61	10.3	3.75 (1.6%)
Sep 19	240.00	9.90	124	8.0	3.75 (1.6%)

10% Yield On SBAC Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Jul 18	240.00	6.30	61	10.3	3.75 (1.6%)
Sep 19	240.00	9.90	124	8.0	3.75 (1.6%)

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Want more examples? SB Dividend | SBB Dividend