VLY Dividend Type Payments

VALLEY NATIONAL BANCORP dividend

Although VLY has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on VALLEY NATIONAL BANCORP to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Mon 10:15 AM ET):

VALLEY NATIONAL BANCORP (VLY)
Bid Ask Last Change Volume P/E Market Cap
10.62 10.63 10.62 0.00 233K 19 3.6B

VLY Dividend-Like Income Using Covered Calls

With VLY at 10.62, 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% 0.32 0.1
5% 0.53 0.1
10% 1.06 0.3

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 VLY Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Mar 15 11.00 0.20 152 0.1 0.37 (3.5%)

Want to increase dividends with covered calls?  Sign Up For A Free Trial

 
Top 10 Open Interest For Oct 19 Expiration     Top 5 High Yield
1.SPY dividend 6.MU dividend   1.UVXY dividend
2.SPX dividend 7.FXI dividend   2.PYX dividend
3.EEM dividend 8.BAC dividend   3.NIO dividend
4.QQQ dividend 9.AMD dividend   4.CRON dividend
5.PBR dividend 10.XLF dividend   5.TLRY dividend

Want more examples? VLUE Dividend | VMC Dividend