EWZ Dividend Type Payments

Although EWZ has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on iShares Inc iShares MSCI Brazil ETF 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):

iShares Inc iShares MSCI Brazil ETF (EWZ)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
27.54	27.63	27.53	-0.16	17.3M	-	4.4B

EWZ Dividend-Like Income Using Covered Calls

With EWZ at 27.53, 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%	0.83	0.2
5%	1.38	0.4
10%	2.75	0.8

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 EWZ Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 6	27.50	0.54	24	1.7	0.00 (0.0%)
Dec 13	27.50	0.23	31	0.3	0.00 (0.0%)

5% Yield On EWZ Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 6	27.50	0.54	24	1.7	0.00 (0.0%)
Dec 13	28.00	0.40	31	1.3	0.37 (1.3%)

10% Yield On EWZ Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 6	27.50	0.54	24	1.7	0.00 (0.0%)
Dec 13	28.00	0.40	31	1.3	0.37 (1.3%)

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Want more examples? EWY Dividend | EWZS Dividend