SHW Dividend Type Payments

Although SHW has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Sherwin-Williams Company (The) 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):

Sherwin-Williams Company (The) (SHW)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
329.00	345.72	345.72	+3.85	1.3M	32	86B

SHW Dividend-Like Income Using Covered Calls

With SHW at 345.72, 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%	10.37	2.8
5%	17.29	4.7
10%	34.57	9.5

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 SHW Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Aug 15	350.00	10.70	50	21.4	4.28 (1.2%)
Jul 18	350.00	4.30	22	19.5	4.28 (1.2%)

5% Yield On SHW Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Aug 15	350.00	10.70	50	21.4	4.28 (1.2%)
Jul 18	350.00	4.30	22	19.5	4.28 (1.2%)

10% Yield On SHW Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Aug 15	350.00	10.70	50	21.4	4.28 (1.2%)
Jul 18	350.00	4.30	22	19.5	4.28 (1.2%)

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