BMA Dividend Type Payments

Banco Macro S.A. ADR (representing Ten Class B Common Shares) dividend

Although BMA has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Banco Macro S.A. ADR (representing Ten Class B Common Shares) 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):

Banco Macro S.A. ADR (representing Ten Class B Common Shares) (BMA)
Bid Ask Last Change Volume P/E Market Cap
91.00 97.99 91.31 +1.09 271K 183 61B

BMA Dividend-Like Income Using Covered Calls

With BMA at 91.31, 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% 2.74 0.8
5% 4.57 1.3
10% 9.13 2.5

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 BMA Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
May 16 100.00 0.55 30 1.8 2.01 (2.2%)
Oct 17 100.00 8.30 184 4.5 2.01 (2.2%)
5% Yield On BMA Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
May 16 100.00 0.55 30 1.8 2.01 (2.2%)
Oct 17 100.00 8.30 184 4.5 2.01 (2.2%)
10% Yield On BMA Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Oct 17 100.00 8.30 184 4.5 2.01 (2.2%)
Jul 18 100.00 4.00 93 4.3 2.01 (2.2%)

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