ALTG Dividend Type Payments
Although ALTG has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Alta Equipment Group 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 Fri 4:16 PM ET):
Alta Equipment Group Inc. Class A (ALTG) |
Bid |
Ask |
Last |
Change |
Volume |
P/E |
Market Cap |
6.09 |
6.51 |
6.38 |
+0.18 |
148K |
- |
0.2B |
ALTG Dividend-Like Income Using Covered Calls
With ALTG at 6.38, 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% |
0.19 |
0.1 |
5% |
0.32 |
0.1 |
10% |
0.64 |
0.2 |
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 ALTG Using Covered Calls |
Expiration |
Strike |
Call Bid |
Days |
Cents/Day |
Upside Potential |
Nov 15 |
7.50 |
0.15 |
43 |
0.3 |
0.99 (15.5%) |
Aug 15 |
10.00 |
0.40 |
316 |
0.1 |
3.49 (54.7%) |
5% Yield On ALTG Using Covered Calls |
Expiration |
Strike |
Call Bid |
Days |
Cents/Day |
Upside Potential |
Nov 15 |
7.50 |
0.15 |
43 |
0.3 |
0.99 (15.5%) |
Aug 15 |
10.00 |
0.40 |
316 |
0.1 |
3.49 (54.7%) |
10% Yield On ALTG Using Covered Calls |
Expiration |
Strike |
Call Bid |
Days |
Cents/Day |
Upside Potential |
Nov 15 |
7.50 |
0.15 |
43 |
0.3 |
0.99 (15.5%) |
Aug 15 |
7.50 |
0.85 |
316 |
0.3 |
0.99 (15.5%) |
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