BAP Dividend Type Payments

Although BAP has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Credicorp Ltd. to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Mon 2:45 PM ET):

Credicorp Ltd. (BAP)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
180.89	181.26	181.07	+2.10	133K	10	17B

BAP Dividend-Like Income Using Covered Calls

With BAP at 181.07, 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%	5.43	1.5
5%	9.05	2.5
10%	18.11	5.0

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 BAP Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Aug 15	185.00	6.60	173	3.8	3.74 (2.1%)
May 16	185.00	4.50	82	5.5	3.74 (2.1%)

5% Yield On BAP Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Aug 15	185.00	6.60	173	3.8	3.74 (2.1%)
May 16	185.00	4.50	82	5.5	3.74 (2.1%)

10% Yield On BAP Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
May 16	185.00	4.50	82	5.5	3.74 (2.1%)
Apr 17	185.00	2.80	53	5.3	3.74 (2.1%)

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