TAP Dividend Type Payments

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

Molson Coors Beverage Company Class B (TAP)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
48.80	49.83	49.38	+0.38	2.4M	-	9.4B

TAP Dividend-Like Income Using Covered Calls

With TAP at 49.38, 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%	1.48	0.4
5%	2.47	0.7
10%	4.94	1.4

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 TAP Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Aug 15	50.00	1.70	39	4.4	0.17 (0.3%)
Oct 17	50.00	2.35	102	2.3	0.17 (0.3%)

5% Yield On TAP Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Aug 15	50.00	1.70	39	4.4	0.17 (0.3%)
Oct 17	50.00	2.35	102	2.3	0.17 (0.3%)

10% Yield On TAP Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Aug 15	50.00	1.70	39	4.4	0.17 (0.3%)
Oct 17	50.00	2.35	102	2.3	0.17 (0.3%)

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