BNS Dividend Type Payments

Although BNS has no upcoming (meaning, Board-approved and announced) dividends, 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 Mon 1:25 PM ET):

Bank Nova Scotia Halifax Pfd 3 Ordinary Shares (BNS)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
50.96	50.97	50.97	+0.47	678K	12	61B

BNS Dividend-Like Income Using Covered Calls

With BNS at 50.97, 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%	1.53	0.4
5%	2.55	0.7
10%	5.10	1.4

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
Apr 17	52.50	0.75	53	1.4	1.53 (3.0%)
Sep 19	52.50	2.20	208	1.1	1.53 (3.0%)

5% Yield On BNS Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Apr 17	52.50	0.75	53	1.4	1.53 (3.0%)
Sep 19	52.50	2.20	208	1.1	1.53 (3.0%)

10% Yield On BNS Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Apr 17	52.50	0.75	53	1.4	1.53 (3.0%)
Mar 21	52.50	0.55	26	2.1	1.53 (3.0%)

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Want more examples? BNO Dividend | BNTX Dividend