CE Dividend

Although CE has a dividend of 0.03 with an ex-dividend date of Apr 28, you can sell covered calls on Celanese Corporation Celanese Corporation 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):

Celanese Corporation Celanese Corporation (CE)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
42.51	44.55	43.53	-0.18	2.3M	-	4.8B

CE Dividend-Like Income Using Covered Calls

With CE at 43.53, 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%	1.31	0.4
5%	2.18	0.6
10%	4.35	1.2

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 CE Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
May 16	45.00	2.65	22	12.0	0.45 (1.0%)
Oct 17	45.00	5.40	176	3.1	0.45 (1.0%)

5% Yield On CE Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
May 16	45.00	2.65	22	12.0	0.45 (1.0%)
Oct 17	45.00	5.40	176	3.1	0.45 (1.0%)

10% Yield On CE Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
May 16	45.00	2.65	22	12.0	0.45 (1.0%)
Oct 17	45.00	5.40	176	3.1	0.45 (1.0%)

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Want more examples? CDZI Dividend | CECO Dividend