VOYA Dividend

Although VOYA has a dividend of 0.01 with an ex-dividend date of Aug 30, you can sell covered calls on VOYA FINANCIAL INC to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Tue 11:10 AM ET):

VOYA FINANCIAL INC (VOYA)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
50.70	50.72	50.71	+0.70	222K	-	8.0B

VOYA Dividend-Like Income Using Covered Calls

With VOYA at 50.71, 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%	1.52	0.4
5%	2.54	0.7
10%	5.07	1.4

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 VOYA Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Oct 19	55.00	0.35	60	0.6	4.28 (8.4%)
Nov 16	55.00	0.75	88	0.9	4.28 (8.4%)

5% Yield On VOYA Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Nov 16	55.00	0.75	88	0.9	4.28 (8.4%)
Feb 15	55.00	1.70	179	0.9	4.28 (8.4%)

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