QUAD Dividend

Although QUAD has a dividend of 0.05 with an ex-dividend date of Nov 18, you can sell covered calls on Quad Graphics, 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 Fri 4:16 PM ET):

Quad Graphics, Inc Class A (QUAD)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
6.84	7.50	7.09	-0.16	358K	-	0.2B

QUAD Dividend-Like Income Using Covered Calls

With QUAD at 7.09, 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%	0.21	0.1
5%	0.35	0.1
10%	0.71	0.2

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 QUAD Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 20	7.50	0.20	36	0.6	0.00 (0.0%)
Jan 17	7.50	0.35	64	0.5	0.00 (0.0%)

5% Yield On QUAD Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 20	7.50	0.20	36	0.6	0.00 (0.0%)
Jan 17	7.50	0.35	64	0.5	0.00 (0.0%)

10% Yield On QUAD Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 20	7.50	0.20	36	0.6	0.00 (0.0%)
Jan 17	7.50	0.35	64	0.5	0.00 (0.0%)

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