GIL Dividend

Although GIL has a dividend of 0.23 with an ex-dividend date of Nov 19, 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 Tue 4:16 PM ET):

Gildan Activewear, Inc. Class A Sub. Vot. (GIL)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
55.00	57.92	56.75	-1.21	1.5M	19	13B

GIL Dividend-Like Income Using Covered Calls

With GIL at 56.75, 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%	1.70	0.5
5%	2.84	0.8
10%	5.68	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	60.00	0.80	46	1.7	2.08 (3.7%)
Nov 21	60.00	0.20	18	1.1	2.08 (3.7%)

5% Yield On GIL Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 19	60.00	0.80	46	1.7	2.08 (3.7%)
Nov 21	60.00	0.20	18	1.1	2.08 (3.7%)

10% Yield On GIL Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 19	60.00	0.80	46	1.7	2.08 (3.7%)

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Want more examples? GIII Dividend | GILD Dividend