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 3:05 PM ET):

Parker-Hannifin Corporation (PH)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
820.90	822.74	821.82	-10.13	339K	30	105B

PH Dividend-Like Income Using Covered Calls

With PH at 821.82, 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%	24.65	6.8
5%	41.09	11.3
10%	82.18	22.5

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 PH Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 19	820.00	27.30	33	74.4	0.00 (0.0%)
Nov 21	820.00	11.30	5	171.2	0.00 (0.0%)

5% Yield On PH Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 19	820.00	27.30	33	74.4	0.00 (0.0%)
Nov 21	820.00	11.30	5	171.2	0.00 (0.0%)

10% Yield On PH Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 19	820.00	27.30	33	74.4	0.00 (0.0%)
Nov 21	820.00	11.30	5	171.2	0.00 (0.0%)

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