WPP Dividend

Although WPP has a dividend of 0.50 with an ex-dividend date of Oct 10, you can sell covered calls on WPP plc American Depositary Shares 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):

WPP plc American Depositary Shares (WPP)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
26.50	27.99	27.16	-0.05	299K	44	6.5B

WPP Dividend-Like Income Using Covered Calls

With WPP at 27.16, 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%	0.81	0.2
5%	1.36	0.4
10%	2.72	0.7

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 WPP Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Nov 21	30.00	0.55	71	0.8	2.01 (7.4%)
Dec 18	30.00	2.60	463	0.6	2.01 (7.4%)

5% Yield On WPP Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Nov 21	30.00	0.55	71	0.8	2.01 (7.4%)
Dec 18	30.00	2.60	463	0.6	2.01 (7.4%)

10% Yield On WPP Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Nov 21	30.00	0.55	71	0.8	2.01 (7.4%)
Feb 20	30.00	1.35	162	0.8	2.01 (7.4%)

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Want more examples? WPM Dividend | WPRT Dividend