SLGN Dividend Type Payments
Although SLGN has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Silgan Holdings Inc. to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Thu 11:30 AM ET):
| Silgan Holdings Inc. (SLGN) | ||||||
|---|---|---|---|---|---|---|
| Bid | Ask | Last | Change | Volume | P/E | Market Cap |
| 52.76 | 52.84 | 52.80 | +1.15 | 204K | 19 | 5.5B |
SLGN Dividend-Like Income Using Covered Calls
With SLGN at 52.80, 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% | 1.58 | 0.4 |
| 5% | 2.64 | 0.7 |
| 10% | 5.28 | 1.4 |
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 SLGN Using Covered Calls | ||||||
|---|---|---|---|---|---|---|
| Expiration | Strike | Call Bid | Days | Cents/Day | Upside Potential | |
| Jun 20 | 55.00 | 0.25 | 51 | 0.5 | 2.16 (4.1%) | |
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| Top 10 Open Interest For May 16 Expiration | Top 5 High Yield | |||||
|---|---|---|---|---|---|---|
| 1. | NVDA dividend | 6. | GLD dividend | 1. | RDDT dividend | |
| 2. | SPY dividend | 7. | IWM dividend | 2. | ZETA dividend | |
| 3. | TLT dividend | 8. | FXI dividend | 3. | ABR dividend | |
| 4. | SLV dividend | 9. | TSLA dividend | 4. | ABNB dividend | |
| 5. | QQQ dividend | 10. | SNAP dividend | 5. | AUR dividend | |
Want more examples? SLG Dividend | SLM Dividend
