CLF Dividend Type Payments

Cleveland-Cliffs Inc. dividend

Although CLF has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Cleveland-Cliffs Inc. to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Thu 10:30 AM ET):

Cleveland-Cliffs Inc. (CLF)
Bid Ask Last Change Volume P/E Market Cap
7.81 7.82 7.81 -0.92 6.2M - 4.3B

CLF Dividend-Like Income Using Covered Calls

With CLF at 7.81, 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% 0.23 0.1
5% 0.39 0.1
10% 0.78 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 CLF Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
May 2 10.00 0.13 30 0.4 2.18 (27.9%)
May 9 10.00 0.18 37 0.5 2.18 (27.9%)
5% Yield On CLF Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
May 2 10.00 0.13 30 0.4 2.18 (27.9%)
May 9 10.00 0.18 37 0.5 2.18 (27.9%)
10% Yield On CLF Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
May 2 10.00 0.13 30 0.4 2.18 (27.9%)
May 9 10.00 0.18 37 0.5 2.18 (27.9%)

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