LZB Dividend Type Payments

La-Z-Boy Incorporated dividend

Although LZB has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on La-Z-Boy Incorporated 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):

La-Z-Boy Incorporated (LZB)
Bid Ask Last Change Volume P/E Market Cap
35.25 42.51 39.25 +0.22 429K 17 1.6B

LZB Dividend-Like Income Using Covered Calls

With LZB at 39.25, 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% 1.18 0.3
5% 1.96 0.5
10% 3.93 1.1

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 LZB Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Jan 16 45.00 1.50 193 0.8 2.49 (6.3%)
5% Yield On LZB Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Jan 16 45.00 1.50 193 0.8 2.49 (6.3%)

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