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 Mon 4:16 PM ET):

Mid-America Apartment Communities, Inc. (MAA)
Bid Ask Last Change Volume P/E Market Cap
147.50 159.50 152.49 -0.09 866K 34 18B

MAA Dividend-Like Income Using Covered Calls

With MAA at 152.49, 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% 4.57 1.3
5% 7.62 2.1
10% 15.25 4.2

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
Sep 19 160.00 5.50 229 2.4 0.50 (0.3%)
Jun 20 160.00 3.40 138 2.5 0.50 (0.3%)
5% Yield On MAA Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Sep 19 160.00 5.50 229 2.4 0.50 (0.3%)
Jun 20 160.00 3.40 138 2.5 0.50 (0.3%)

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