MAA Dividend Type Payments

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
131.00	134.03	132.70	+1.27	791K	27	15B

MAA Dividend-Like Income Using Covered Calls

With MAA at 132.70, 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%	3.98	1.1
5%	6.64	1.8
10%	13.27	3.6

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
Dec 19	135.00	4.00	64	6.3	0.97 (0.7%)
Nov 21	135.00	2.55	36	7.1	0.97 (0.7%)

5% Yield On MAA Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 19	135.00	4.00	64	6.3	0.97 (0.7%)
Nov 21	135.00	2.55	36	7.1	0.97 (0.7%)

10% Yield On MAA Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 19	135.00	4.00	64	6.3	0.97 (0.7%)
Nov 21	135.00	2.55	36	7.1	0.97 (0.7%)

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Want more examples? MA Dividend | MAC Dividend