BMY Dividend

Bristol-Myers Squibb Company dividend

Although BMY has a dividend of 0.62 with an ex-dividend date of Jan 3, 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 Wed 12:35 PM ET):

Bristol-Myers Squibb Company (BMY)
Bid Ask Last Change Volume P/E Market Cap
57.51 57.52 57.52 -0.14 4.7M - 117B

BMY Dividend-Like Income Using Covered Calls

With BMY at 57.52, 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% 1.73 0.5
5% 2.88 0.8
10% 5.75 1.6

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 20 57.50 0.49 3 15.7 0.00 (0.0%)
Dec 27 58.00 0.62 10 6.2 0.48 (0.8%)
5% Yield On BMY Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Dec 20 57.50 0.49 3 15.7 0.00 (0.0%)
Dec 27 58.00 0.62 10 6.2 0.48 (0.8%)
10% Yield On BMY Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Dec 20 57.50 0.49 3 15.7 0.00 (0.0%)
Dec 27 58.00 0.62 10 6.2 0.48 (0.8%)

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