WK Dividend Type Payments

Although WK has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Workiva Inc. Class A 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):

Workiva Inc. Class A (WK)
Bid Ask Last Change Volume P/E Market Cap
66.26 75.01 71.71 +0.70 437K - 4.0B

WK Dividend-Like Income Using Covered Calls

With WK at 71.71, 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% 2.15 0.6
5% 3.59 1.0
10% 7.17 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 WK Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Aug 15 75.00 0.80 38 2.1 0.00 (0.0%)
Oct 17 75.00 2.40 101 2.4 0.00 (0.0%)
5% Yield On WK Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Aug 15 75.00 0.80 38 2.1 0.00 (0.0%)
Oct 17 75.00 2.40 101 2.4 0.00 (0.0%)
10% Yield On WK Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Aug 15 75.00 0.80 38 2.1 0.00 (0.0%)
Oct 17 75.00 2.40 101 2.4 0.00 (0.0%)

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