TCBK Dividend
Although TCBK has a dividend of 0.33 with an ex-dividend date of Jun 6, you can sell covered calls on TriCo Bancshares 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):
| TriCo Bancshares (TCBK) | ||||||
|---|---|---|---|---|---|---|
| Bid | Ask | Last | Change | Volume | P/E | Market Cap |
| 25.65 | 63.40 | 39.68 | -0.22 | 78K | 12 | 1.3B |
TCBK Dividend-Like Income Using Covered Calls
With TCBK at 39.68, 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% | 1.19 | 0.3 |
| 5% | 1.98 | 0.5 |
| 10% | 3.97 | 1.1 |
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 Jun 20 Expiration | Top 5 High Yield | |||||
|---|---|---|---|---|---|---|
| 1. | NVDA dividend | 6. | IWM dividend | 1. | MDB dividend | |
| 2. | SPY dividend | 7. | EEM dividend | 2. | ALT dividend | |
| 3. | SLV dividend | 8. | FXI dividend | 3. | IOT dividend | |
| 4. | QQQ dividend | 9. | TSLA dividend | 4. | IONQ dividend | |
| 5. | GLD dividend | 10. | TLT dividend | 5. | SOUN dividend | |
Want more examples? TCBI Dividend | TCHI Dividend
