TRS Dividend Type Payments

TRIMAS dividend

Although TRS has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on TRIMAS 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):

Bid Ask Last Change Volume P/E Market Cap
30.80 30.80 30.80 -0.40 96K 27 1.4B

TRS Dividend-Like Income Using Covered Calls

With TRS at 30.80, 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% 0.92 0.3
5% 1.54 0.4
10% 3.08 0.8

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 TRS Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Dec 21 35.00 0.35 124 0.3 4.20 (13.6%)
Mar 15 35.00 0.75 208 0.4 4.20 (13.6%)

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Top 10 Open Interest For Sep 21 Expiration     Top 5 High Yield
1.EEM dividend 6.GE dividend   1.COTY dividend
2.SPY dividend 7.GLD dividend   2.MOMO dividend
3.SPX dividend 8.FB dividend   3.UVXY dividend
4.QQQ dividend 9.IWM dividend   4.AKRX dividend
5.XLF dividend 10.GDX dividend   5.LB dividend

Want more examples? TRQ Dividend | TRSCDX Dividend