DOX Dividend

Although DOX has a dividend of 0.53 with an ex-dividend date of Mar 31, you can sell covered calls on Amdocs Limited - Ordinary Shares 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):

Amdocs Limited - Ordinary Shares (DOX)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
87.50	93.00	88.91	+0.92	491K	20	11B

DOX Dividend-Like Income Using Covered Calls

With DOX at 88.91, 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%	2.67	0.7
5%	4.45	1.2
10%	8.89	2.4

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 DOX Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Oct 17	95.00	1.90	215	0.9	2.00 (2.2%)
Jul 18	95.00	1.45	124	1.2	2.00 (2.2%)

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