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 Tue 4:16 PM ET):

Mid-America Apartment Communities, Inc. (MAA)
Bid Ask Last Change Volume P/E Market Cap
130.00 140.70 136.45 +2.87 866K 35 16B

MAA Dividend-Like Income Using Covered Calls

With MAA at 136.45, 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% 4.09 1.1
5% 6.82 1.9
10% 13.65 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
Mar 20 140.00 1.45 39 1.9 0.00 (0.0%)
Jun 18 140.00 3.00 129 1.8 0.00 (0.0%)
5% Yield On MAA Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Mar 20 140.00 1.45 39 1.9 0.00 (0.0%)
Sep 18 140.00 5.40 221 2.1 0.00 (0.0%)

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