MAA Dividend

Mid-America Apartment Communities, Inc. dividend

Although MAA has a dividend of 1.53 with an ex-dividend date of Jan 15, 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
134.75 136.69 135.90 -2.64 1.9M 29 16B

MAA Dividend-Like Income Using Covered Calls

With MAA at 135.90, 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% 4.08 1.1
5% 6.80 1.9
10% 13.59 3.7

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
Jan 16 140.00 0.10 8 1.3 3.31 (2.4%)
Jun 18 140.00 3.30 161 2.0 3.31 (2.4%)
5% Yield On MAA Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Jun 18 140.00 3.30 161 2.0 3.31 (2.4%)
Mar 20 140.00 1.50 71 2.1 3.31 (2.4%)

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