ZION Dividend

Zions Bancorporation N.A. dividend

Although ZION has a dividend of 0.45 with an ex-dividend date of Nov 13, you can sell covered calls on Zions Bancorporation N.A. to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Tue 1:00 PM ET):

Zions Bancorporation N.A. (ZION)
Bid Ask Last Change Volume P/E Market Cap
51.49 51.52 51.51 -0.26 306K - 7.6B

ZION Dividend-Like Income Using Covered Calls

With ZION at 51.51, 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% 1.55 0.4
5% 2.58 0.7
10% 5.15 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 ZION Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Dec 19 52.50 1.75 46 3.8 0.98 (1.9%)
Nov 21 52.50 0.85 18 4.7 0.98 (1.9%)
5% Yield On ZION Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Dec 19 52.50 1.75 46 3.8 0.98 (1.9%)
Nov 21 52.50 0.85 18 4.7 0.98 (1.9%)
10% Yield On ZION Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Dec 19 52.50 1.75 46 3.8 0.98 (1.9%)
Nov 21 52.50 0.85 18 4.7 0.98 (1.9%)

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Want more examples? ZIG Dividend | ZIP Dividend