MAA Dividend Type Payments

Mid-America Apartment Communities, Inc. dividend

Although MAA has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Mid-America Apartment Communities, Inc. to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Fri 4:16 PM ET):

Mid-America Apartment Communities, Inc. (MAA)
Bid Ask Last Change Volume P/E Market Cap
162.54 164.64 162.46 -2.05 2.3M 38 19B

MAA Dividend-Like Income Using Covered Calls

With MAA at 162.46, 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% 4.87 1.3
5% 8.12 2.2
10% 16.25 4.5

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 MAA Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Nov 15 165.00 2.50 57 4.4 0.36 (0.2%)
Oct 18 165.00 0.85 29 2.9 0.36 (0.2%)
5% Yield On MAA Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Nov 15 165.00 2.50 57 4.4 0.36 (0.2%)
Oct 18 165.00 0.85 29 2.9 0.36 (0.2%)
10% Yield On MAA Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Dec 20 165.00 5.10 92 5.5 0.36 (0.2%)

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