GIL Dividend Type Payments

Although GIL has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Gildan Activewear, Inc. Class A Sub. Vot. to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Wed 11:00 AM ET):

Gildan Activewear, Inc. Class A Sub. Vot. (GIL)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
57.50	57.53	57.51	+0.31	304K	18	13B

GIL Dividend-Like Income Using Covered Calls

With GIL at 57.51, 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%	1.73	0.5
5%	2.88	0.8
10%	5.75	1.6

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 GIL Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 19	57.50	0.25	24	0.9	0.00 (0.0%)
Jan 16	57.50	1.65	52	3.1	0.00 (0.0%)

5% Yield On GIL Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 19	57.50	0.25	24	0.9	0.00 (0.0%)
Jan 16	57.50	1.65	52	3.1	0.00 (0.0%)

10% Yield On GIL Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Jan 16	57.50	1.65	52	3.1	0.00 (0.0%)
Mar 20	57.50	2.25	115	1.9	0.00 (0.0%)

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