BNS Dividend

Although BNS has a dividend of 0.76 with an ex-dividend date of Jan 7, you can sell covered calls on Bank Nova Scotia Halifax Pfd 3 Ordinary Shares to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Wed 4:16 PM ET):

Bank Nova Scotia Halifax Pfd 3 Ordinary Shares (BNS)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
53.00	53.70	53.43	-1.31	1.5M	13	66B

BNS Dividend-Like Income Using Covered Calls

With BNS at 53.43, 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%	1.60	0.4
5%	2.67	0.7
10%	5.34	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 BNS Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Jan 17	55.00	0.25	31	0.8	1.30 (2.4%)
Jun 20	55.00	0.95	185	0.5	1.30 (2.4%)

5% Yield On BNS Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Jan 17	55.00	0.25	31	0.8	1.30 (2.4%)
Mar 21	55.00	1.05	94	1.1	1.30 (2.4%)

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Want more examples? BNO Dividend | BNTX Dividend