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 Mon 1:20 PM ET):

Cleveland-Cliffs Inc. (CLF)
Bid Ask Last Change Volume P/E Market Cap
13.40 13.41 13.40 +0.27 14.4M - 6.5B

CLF Dividend-Like Income Using Covered Calls

With CLF at 13.40, 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% 0.40 0.1
5% 0.67 0.2
10% 1.34 0.4

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 CLF Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Dec 5 13.50 0.89 40 2.2 0.09 (0.7%)
Nov 7 13.50 0.59 12 4.9 0.09 (0.7%)
5% Yield On CLF Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Dec 5 13.50 0.89 40 2.2 0.09 (0.7%)
Nov 7 13.50 0.59 12 4.9 0.09 (0.7%)
10% Yield On CLF Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Dec 5 13.50 0.89 40 2.2 0.09 (0.7%)
Nov 7 13.50 0.59 12 4.9 0.09 (0.7%)

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Want more examples? CLDX Dividend | CLFD Dividend