CBL Dividend

Although CBL has a dividend of 0.45 with an ex-dividend date of Sep 15, you can sell covered calls on CBL & Associates Properties, Inc. to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Mon 4:16 PM ET):

CBL & Associates Properties, Inc. (CBL)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
26.48	28.70	28.69	+0.46	131K	13	1.7B

CBL Dividend-Like Income Using Covered Calls

With CBL at 28.69, 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%	0.86	0.2
5%	1.43	0.4
10%	2.87	0.8

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 CBL Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Jan 16	29.00	1.25	159	0.8	0.30 (1.0%)
Mar 20	29.00	1.05	222	0.5	0.30 (1.0%)

5% Yield On CBL Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Jan 16	29.00	1.25	159	0.8	0.30 (1.0%)
Mar 20	29.00	1.05	222	0.5	0.30 (1.0%)

10% Yield On CBL Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Jan 16	29.00	1.25	159	0.8	0.30 (1.0%)

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Want more examples? CBIO Dividend | CBLS Dividend