PJT Dividend Type Payments

PJT Partners Inc. Class A dividend

Although PJT has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on PJT Partners Inc. Class A to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Wed 4:16 PM ET):

PJT Partners Inc. Class A (PJT)
Bid Ask Last Change Volume P/E Market Cap
165.83 182.56 176.15 +4.55 225K 30 4.2B

PJT Dividend-Like Income Using Covered Calls

With PJT at 176.15, 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% 5.28 1.4
5% 8.81 2.4
10% 17.62 4.8

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 PJT Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Aug 15 185.00 0.90 38 2.4 2.44 (1.4%)
Sep 19 185.00 2.65 73 3.6 2.44 (1.4%)
5% Yield On PJT Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Sep 19 185.00 2.65 73 3.6 2.44 (1.4%)
Dec 19 185.00 7.30 164 4.5 2.44 (1.4%)

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