PH Dividend Type Payments

Although PH has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Parker-Hannifin 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):

Parker-Hannifin Corporation (PH)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
870.00	909.09	886.47	+11.66	382K	31	110B

PH Dividend-Like Income Using Covered Calls

With PH at 886.47, 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%	26.59	7.3
5%	44.32	12.1
10%	88.65	24.3

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 PH Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
May 15	1000.00	15.00	145	10.3	90.91 (10.3%)
Jan 16	910.00	3.00	26	11.5	0.91 (0.1%)

5% Yield On PH Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
May 15	920.00	42.00	145	29.0	10.91 (1.2%)
Jan 16	920.00	3.50	26	13.5	10.91 (1.2%)

10% Yield On PH Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
May 15	920.00	42.00	145	29.0	10.91 (1.2%)
Feb 20	920.00	17.00	61	27.9	10.91 (1.2%)

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