GTY Dividend Type Payments
Although GTY has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Getty Realty Corporation 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):
| Getty Realty Corporation (GTY) | ||||||
|---|---|---|---|---|---|---|
| Bid | Ask | Last | Change | Volume | P/E | Market Cap |
| 28.50 | 28.97 | 28.72 | +0.45 | 493K | 22 | 1.6B |
GTY Dividend-Like Income Using Covered Calls
With GTY at 28.72, 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% | 0.86 | 0.2 |
| 5% | 1.44 | 0.4 |
| 10% | 2.87 | 0.8 |
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 GTY Using Covered Calls | ||||||
|---|---|---|---|---|---|---|
| Expiration | Strike | Call Bid | Days | Cents/Day | Upside Potential | |
| Jun 18 | 30.00 | 0.55 | 158 | 0.3 | 1.03 (3.6%) | |
| Mar 20 | 30.00 | 0.25 | 68 | 0.4 | 1.03 (3.6%) | |
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| Top 10 Open Interest For Jan 16 Expiration | Top 5 High Yield | |||||
|---|---|---|---|---|---|---|
| 1. | NVDA dividend | 6. | AAPL dividend | 1. | TMQ dividend | |
| 2. | IBIT dividend | 7. | SPY dividend | 2. | TVTX dividend | |
| 3. | INTC dividend | 8. | NFLX dividend | 3. | OKLO dividend | |
| 4. | TLT dividend | 9. | GLD dividend | 4. | ENVX dividend | |
| 5. | SLV dividend | 10. | QQQ dividend | 5. | HTZ dividend | |
Want more examples? GTO Dividend | GUNR Dividend
