MTX Dividend Type Payments
Although MTX has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Minerals Technologies Inc. to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Thu 11:30 AM ET):
| Minerals Technologies Inc. (MTX) | ||||||
|---|---|---|---|---|---|---|
| Bid | Ask | Last | Change | Volume | P/E | Market Cap |
| 54.47 | 54.79 | 54.64 | +0.22 | 25K | - | 1.7B |
MTX Dividend-Like Income Using Covered Calls
With MTX at 54.64, 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% | 1.64 | 0.4 |
| 5% | 2.73 | 0.7 |
| 10% | 5.46 | 1.5 |
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 MTX Using Covered Calls | ||||||
|---|---|---|---|---|---|---|
| Expiration | Strike | Call Bid | Days | Cents/Day | Upside Potential | |
| Aug 15 | 55.00 | 0.55 | 51 | 1.1 | 0.21 (0.4%) | |
| Nov 21 | 55.00 | 2.65 | 149 | 1.8 | 0.21 (0.4%) | |
| 5% Yield On MTX Using Covered Calls | ||||||
|---|---|---|---|---|---|---|
| Expiration | Strike | Call Bid | Days | Cents/Day | Upside Potential | |
| Aug 15 | 55.00 | 0.55 | 51 | 1.1 | 0.21 (0.4%) | |
| Nov 21 | 55.00 | 2.65 | 149 | 1.8 | 0.21 (0.4%) | |
| 10% Yield On MTX Using Covered Calls | ||||||
|---|---|---|---|---|---|---|
| Expiration | Strike | Call Bid | Days | Cents/Day | Upside Potential | |
| Nov 21 | 55.00 | 2.65 | 149 | 1.8 | 0.21 (0.4%) | |
| Feb 20 | 55.00 | 3.60 | 240 | 1.5 | 0.21 (0.4%) | |
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| Top 10 Open Interest For Jul 18 Expiration | Top 5 High Yield | |||||
|---|---|---|---|---|---|---|
| 1. | NVDA dividend | 6. | TSLA dividend | 1. | COGT dividend | |
| 2. | SLV dividend | 7. | IWM dividend | 2. | IREN dividend | |
| 3. | SPY dividend | 8. | AAPL dividend | 3. | CELC dividend | |
| 4. | GLD dividend | 9. | FXI dividend | 4. | CAPR dividend | |
| 5. | TLT dividend | 10. | CLSK dividend | 5. | ENPH dividend | |
Want more examples? MTW Dividend | MTZ Dividend
