PRF Dividend Type Payments

Although PRF has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Invesco RAFI US 1000 ETF 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):

Invesco RAFI US 1000 ETF (PRF)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
43.44	43.87	43.52	-0.02	240K	-	10B

PRF Dividend-Like Income Using Covered Calls

With PRF at 43.52, 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%	1.31	0.4
5%	2.18	0.6
10%	4.35	1.2

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 PRF Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Oct 17	44.00	0.30	61	0.5	0.13 (0.3%)
Dec 19	44.00	0.75	124	0.6	0.13 (0.3%)

5% Yield On PRF Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 19	44.00	0.75	124	0.6	0.13 (0.3%)
Mar 20	44.00	1.70	215	0.8	0.13 (0.3%)

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Top 10 Open Interest For Sep 19 Expiration				Top 5 High Yield
1.	NVDA dividend	6.	SLV dividend	1.	MBX dividend
2.	PCG dividend	7.	FXI dividend	2.	ATYR dividend
3.	IWM dividend	8.	IBIT dividend	3.	ONDS dividend
4.	SPY dividend	9.	QQQ dividend	4.	IREN dividend
5.	EEM dividend	10.	KWEB dividend	5.	BHVN dividend

Want more examples? PREF Dividend | PRFZ Dividend