CTAS Dividend Type Payments
Although CTAS has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Cintas Corporation to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Tue 4:16 PM ET):
Cintas Corporation (CTAS) | ||||||
---|---|---|---|---|---|---|
Bid | Ask | Last | Change | Volume | P/E | Market Cap |
203.54 | 206.63 | 204.85 | +0.86 | 1.6M | 54 | 82B |
CTAS Dividend-Like Income Using Covered Calls
With CTAS at 204.85, 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% | 6.15 | 1.7 |
5% | 10.24 | 2.8 |
10% | 20.49 | 5.6 |
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 CTAS Using Covered Calls | ||||||
---|---|---|---|---|---|---|
Expiration | Strike | Call Bid | Days | Cents/Day | Upside Potential | |
Nov 15 | 210.00 | 5.50 | 53 | 10.4 | 3.37 (1.6%) | |
Oct 18 | 207.50 | 4.80 | 25 | 19.2 | 0.87 (0.4%) |
5% Yield On CTAS Using Covered Calls | ||||||
---|---|---|---|---|---|---|
Expiration | Strike | Call Bid | Days | Cents/Day | Upside Potential | |
Nov 15 | 210.00 | 5.50 | 53 | 10.4 | 3.37 (1.6%) | |
Oct 18 | 207.50 | 4.80 | 25 | 19.2 | 0.87 (0.4%) |
10% Yield On CTAS Using Covered Calls | ||||||
---|---|---|---|---|---|---|
Expiration | Strike | Call Bid | Days | Cents/Day | Upside Potential | |
Nov 15 | 210.00 | 5.50 | 53 | 10.4 | 3.37 (1.6%) | |
Oct 18 | 207.50 | 4.80 | 25 | 19.2 | 0.87 (0.4%) |
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Top 10 Open Interest For Oct 18 Expiration | Top 5 High Yield | |||||
---|---|---|---|---|---|---|
1. | NVDA dividend | 6. | SLV dividend | 1. | CPRI dividend | |
2. | IWM dividend | 7. | EEM dividend | 2. | DJT dividend | |
3. | SPY dividend | 8. | TLT dividend | 3. | MBLY dividend | |
4. | QQQ dividend | 9. | GLD dividend | 4. | SMMT dividend | |
5. | HYG dividend | 10. | AAPL dividend | 5. | CLSK dividend |
Want more examples? CSX Dividend | CTBI Dividend