VOYA Dividend Type Payments
Although VOYA has no upcoming (meaning, Board-approved and announced) dividends, 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 Wed 4:16 PM ET):
| Voya Financial, Inc. (VOYA) | ||||||
|---|---|---|---|---|---|---|
| Bid | Ask | Last | Change | Volume | P/E | Market Cap |
| 67.93 | 75.00 | 71.43 | +0.24 | 660K | 13 | 6.9B |
VOYA Dividend-Like Income Using Covered Calls
With VOYA at 71.43, 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% | 2.14 | 0.6 |
| 5% | 3.57 | 1.0 |
| 10% | 7.14 | 2.0 |
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 | |
| Aug 15 | 75.00 | 0.95 | 31 | 3.1 | 0.00 (0.0%) | |
| Nov 21 | 75.00 | 3.00 | 129 | 2.3 | 0.00 (0.0%) | |
| 5% Yield On VOYA Using Covered Calls | ||||||
|---|---|---|---|---|---|---|
| Expiration | Strike | Call Bid | Days | Cents/Day | Upside Potential | |
| Aug 15 | 75.00 | 0.95 | 31 | 3.1 | 0.00 (0.0%) | |
| Nov 21 | 75.00 | 3.00 | 129 | 2.3 | 0.00 (0.0%) | |
| 10% Yield On VOYA Using Covered Calls | ||||||
|---|---|---|---|---|---|---|
| Expiration | Strike | Call Bid | Days | Cents/Day | Upside Potential | |
| Aug 15 | 75.00 | 0.95 | 31 | 3.1 | 0.00 (0.0%) | |
| Nov 21 | 75.00 | 3.00 | 129 | 2.3 | 0.00 (0.0%) | |
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| Top 10 Open Interest For Jul 18 Expiration | Top 5 High Yield | |||||
|---|---|---|---|---|---|---|
| 1. | NVDA dividend | 6. | IWM dividend | 1. | METC dividend | |
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| 5. | AAPL dividend | 10. | AMZN dividend | 5. | SEDG dividend | |
Want more examples? VOX Dividend | VPC Dividend
