TEN Dividend

Tsakos Energy Navigation Ltd Common Shares dividend

Although TEN has a dividend of 0.50 with an ex-dividend date of Feb 11, you can sell covered calls on Tsakos Energy Navigation Ltd Common Shares to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Thu 4:16 PM ET):

Tsakos Energy Navigation Ltd Common Shares (TEN)
Bid Ask Last Change Volume P/E Market Cap
22.05 23.59 22.13 -0.62 279K - 0.4B

TEN Dividend-Like Income Using Covered Calls

With TEN at 22.13, 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% 0.66 0.2
5% 1.11 0.3
10% 2.21 0.6

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 TEN Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Jan 16 25.00 0.10 30 0.3 1.41 (6.4%)
Mar 20 25.00 0.55 93 0.6 1.41 (6.4%)
5% Yield On TEN Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Jan 16 25.00 0.10 30 0.3 1.41 (6.4%)
Mar 20 25.00 0.55 93 0.6 1.41 (6.4%)

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