WPP Dividend Type Payments

WPP plc American Depositary Shares dividend

Although WPP has no upcoming (meaning, Board-approved and announced) dividends, 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 Tue 10:15 AM ET):

WPP plc American Depositary Shares (WPP)
Bid Ask Last Change Volume P/E Market Cap
35.38 35.41 35.39 +0.18 49K 57 8.4B

WPP Dividend-Like Income Using Covered Calls

With WPP at 35.39, 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% 1.06 0.3
5% 1.77 0.5
10% 3.54 1.0

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 40.00 0.65 137 0.5 4.59 (13.0%)
Feb 20 40.00 1.30 228 0.6 4.59 (13.0%)
5% Yield On WPP Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Feb 20 40.00 1.30 228 0.6 4.59 (13.0%)

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