SPTN Dividend Type Payments

SpartanNash Co dividend

Although SPTN has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on SpartanNash Co to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Mon 3:30 PM ET):

SpartanNash Co (SPTN)
Bid Ask Last Change Volume P/E Market Cap
15.68 15.69 15.68 +0.20 143K 17 0.6B

SPTN Dividend-Like Income Using Covered Calls

With SPTN at 15.68, 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% 0.47 0.1
5% 0.78 0.2
10% 1.57 0.4

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 SPTN Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Apr 18 17.50 0.05 25 0.2 1.81 (11.5%)
May 17 17.50 0.25 54 0.5 1.81 (11.5%)
5% Yield On SPTN Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
May 17 17.50 0.25 54 0.5 1.81 (11.5%)
Jul 19 20.00 0.40 117 0.3 4.31 (27.5%)
10% Yield On SPTN Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
May 17 17.50 0.25 54 0.5 1.81 (11.5%)
Jul 19 17.50 0.90 117 0.8 1.81 (11.5%)

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