VOOV Dividend Type Payments

Vanguard S&P 500 Value ETF dividend

Although VOOV has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Vanguard S&P 500 Value 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):

Vanguard S&P 500 Value ETF (VOOV)
Bid Ask Last Change Volume P/E Market Cap
200.29 203.20 201.79 +0.67 64K - 0.0B

VOOV Dividend-Like Income Using Covered Calls

With VOOV at 201.79, 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% 6.05 1.7
5% 10.09 2.8
10% 20.18 5.5

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 VOOV Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Dec 19 205.00 2.05 50 4.1 1.80 (0.9%)
Mar 20 205.00 5.40 141 3.8 1.80 (0.9%)
5% Yield On VOOV Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Dec 19 205.00 2.05 50 4.1 1.80 (0.9%)
Mar 20 205.00 5.40 141 3.8 1.80 (0.9%)

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