TUR Dividend Type Payments

iShares MSCI Turkey ETF dividend

Although TUR has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on iShares MSCI Turkey ETF to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Thu 4:16 PM ET):

iShares MSCI Turkey ETF (TUR)
Bid Ask Last Change Volume P/E Market Cap
31.15 31.65 31.57 -0.54 74K - 0.2B

TUR Dividend-Like Income Using Covered Calls

With TUR at 31.57, 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% 0.95 0.3
5% 1.58 0.4
10% 3.16 0.9

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 TUR Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Aug 15 32.00 0.65 65 1.0 0.35 (1.1%)
Nov 21 32.00 1.55 163 1.0 0.35 (1.1%)
5% Yield On TUR Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Aug 15 32.00 0.65 65 1.0 0.35 (1.1%)
Nov 21 32.00 1.55 163 1.0 0.35 (1.1%)
10% Yield On TUR Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Aug 15 32.00 0.65 65 1.0 0.35 (1.1%)
Nov 21 32.00 1.55 163 1.0 0.35 (1.1%)

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