BMY Dividend Type Payments

Bristol-Myers Squibb Company dividend

Although BMY has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Bristol-Myers Squibb Company 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):

Bristol-Myers Squibb Company (BMY)
Bid Ask Last Change Volume P/E Market Cap
56.01 56.24 56.22 -2.28 20.9M - 119B

BMY Dividend-Like Income Using Covered Calls

With BMY at 56.22, 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% 1.69 0.5
5% 2.81 0.8
10% 5.62 1.5

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 BMY Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Dec 6 56.00 1.31 22 4.9 0.00 (0.0%)
Dec 13 56.00 1.34 29 3.8 0.00 (0.0%)
5% Yield On BMY Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Dec 6 56.00 1.31 22 4.9 0.00 (0.0%)
Dec 13 56.00 1.34 29 3.8 0.00 (0.0%)
10% Yield On BMY Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Dec 6 56.00 1.31 22 4.9 0.00 (0.0%)
Dec 13 56.00 1.34 29 3.8 0.00 (0.0%)

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