DIVI Dividend Type Payments
Although DIVI has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Franklin International Core Dividend Tilt Index ETF to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Fri 9:55 AM ET):
| Franklin International Core Dividend Tilt Index ETF (DIVI) | ||||||
|---|---|---|---|---|---|---|
| Bid | Ask | Last | Change | Volume | P/E | Market Cap |
| 31.21 | 31.27 | 31.24 | -0.45 | 27K | - | 0.0B |
DIVI Dividend-Like Income Using Covered Calls
With DIVI at 31.24, 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% | 0.94 | 0.3 |
| 5% | 1.56 | 0.4 |
| 10% | 3.12 | 0.9 |
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:
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| Top 10 Open Interest For Nov 15 Expiration | Top 5 High Yield | |||||
|---|---|---|---|---|---|---|
| 1. | FXI dividend | 6. | EEM dividend | 1. | PBI dividend | |
| 2. | NVDA dividend | 7. | TLT dividend | 2. | OKLO dividend | |
| 3. | SLV dividend | 8. | TSLA dividend | 3. | IONQ dividend | |
| 4. | SPY dividend | 9. | XLF dividend | 4. | WOLF dividend | |
| 5. | IWM dividend | 10. | EWZ dividend | 5. | AFRM dividend | |
Want more examples? DIV Dividend | DIVO Dividend
