GPI Dividend

Although GPI has a dividend of 0.50 with an ex-dividend date of Jun 2, you can sell covered calls on Group 1 Automotive, Inc. to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Wed 4:16 PM ET):

Group 1 Automotive, Inc. (GPI)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
412.07	471.30	438.73	-10.13	137K	13	12B

GPI Dividend-Like Income Using Covered Calls

With GPI at 438.73, 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%	13.16	3.6
5%	21.94	6.0
10%	43.87	12.0

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 GPI Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Aug 15	470.00	17.80	94	17.6	0.00 (0.0%)
Oct 17	470.00	26.30	157	15.9	0.00 (0.0%)

5% Yield On GPI Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Aug 15	470.00	17.80	94	17.6	0.00 (0.0%)
Oct 17	470.00	26.30	157	15.9	0.00 (0.0%)

10% Yield On GPI Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Aug 15	470.00	17.80	94	17.6	0.00 (0.0%)
Oct 17	470.00	26.30	157	15.9	0.00 (0.0%)

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Want more examples? GPC Dividend | GPK Dividend