RBCAA Dividend Type Payments
Although RBCAA has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Republic Bancorp, 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 Mon 4:16 PM ET):
Republic Bancorp, Inc. - Class A (RBCAA) | ||||||
---|---|---|---|---|---|---|
Bid | Ask | Last | Change | Volume | P/E | Market Cap |
27.33 | 103.82 | 65.30 | +1.05 | 24K | 13 | 1.2B |
RBCAA Dividend-Like Income Using Covered Calls
With RBCAA at 65.30, 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% | 1.96 | 0.5 |
5% | 3.27 | 0.9 |
10% | 6.53 | 1.8 |
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:
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Top 10 Open Interest For Oct 18 Expiration | Top 5 High Yield | |||||
---|---|---|---|---|---|---|
1. | NVDA dividend | 6. | QQQ dividend | 1. | APLD dividend | |
2. | IWM dividend | 7. | SLV dividend | 2. | SAVA dividend | |
3. | FXI dividend | 8. | HYG dividend | 3. | ASTS dividend | |
4. | SPY dividend | 9. | TLT dividend | 4. | MBLY dividend | |
5. | EEM dividend | 10. | TSLA dividend | 5. | CORZ dividend |
Want more examples? RBC Dividend | RC Dividend