CZNC Dividend Type Payments

Citizens & Northern Corp dividend

Although CZNC has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Citizens & Northern Corp to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Fri 2:45 PM ET):

Citizens & Northern Corp (CZNC)
Bid Ask Last Change Volume P/E Market Cap
18.08 18.21 18.13 -0.50 28K 13 0.3B

CZNC Dividend-Like Income Using Covered Calls

With CZNC at 18.13, 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% 0.54 0.1
5% 0.91 0.2
10% 1.81 0.5

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 CZNC Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Feb 21 20.00 0.10 43 0.2 1.79 (9.9%)

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