MTB Dividend Type Payments

M&T Bank Corporation dividend

Although MTB has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on M&T Bank Corporation 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):

M&T Bank Corporation (MTB)
Bid Ask Last Change Volume P/E Market Cap
163.50 178.41 177.62 -1.94 1.3M 13 30B

MTB Dividend-Like Income Using Covered Calls

With MTB at 177.62, 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% 5.33 1.5
5% 8.88 2.4
10% 17.76 4.9

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 MTB Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Nov 15 180.00 7.10 54 13.1 1.59 (0.9%)
Oct 18 180.00 4.00 26 15.4 1.59 (0.9%)
5% Yield On MTB Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Nov 15 180.00 7.10 54 13.1 1.59 (0.9%)
Oct 18 180.00 4.00 26 15.4 1.59 (0.9%)
10% Yield On MTB Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Nov 15 180.00 7.10 54 13.1 1.59 (0.9%)
Oct 18 180.00 4.00 26 15.4 1.59 (0.9%)

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