SCJ Dividend Type Payments

iShares MSCI Japan Sm-Cap I dividend

Although SCJ has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on iShares MSCI Japan Sm-Cap I 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):

iShares MSCI Japan Sm-Cap I (SCJ)
Bid Ask Last Change Volume P/E Market Cap
70.20 70.20 70.20 +0.56 10K - 0.0B

SCJ Dividend-Like Income Using Covered Calls

With SCJ at 70.20, here's a table showing how big the annual "dividend" (ie. 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% 2.11 0.6
5% 3.51 1.0
10% 7.02 1.9

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 SCJ Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Apr 18 71.00 0.40 32 1.3 0.80 (1.1%)
Jun 21 72.00 0.80 96 0.8 1.80 (2.6%)
5% Yield On SCJ Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Apr 18 71.00 0.40 32 1.3 0.80 (1.1%)
Jun 21 71.00 1.25 96 1.3 0.80 (1.1%)
10% Yield On SCJ Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Apr 18 70.00 0.90 32 2.2 0.00 (0.0%)

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