SPGP Dividend Type Payments

Although SPGP has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Invesco S&P 500 GARP ETF to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Fri 4:16 PM ET):

Invesco S&P 500 GARP ETF (SPGP)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
106.47	108.46	107.49	-1.45	187K	-	0.5B

SPGP Dividend-Like Income Using Covered Calls

With SPGP at 107.49, 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%	3.22	0.9
5%	5.37	1.5
10%	10.75	2.9

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 SPGP Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 19	108.00	2.30	141	1.3	0.00 (0.0%)
Mar 20	108.00	3.90	232	1.5	0.00 (0.0%)

5% Yield On SPGP Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Mar 20	108.00	3.90	232	1.5	0.00 (0.0%)

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Want more examples? SPGM Dividend | SPH Dividend