EZPW Dividend Type Payments

Although EZPW has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on EZCORP, Inc. - Class A Non-Voting to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Fri 2:10 PM ET):

EZCORP, Inc. - Class A Non-Voting (EZPW)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
16.35	16.36	16.36	-0.02	2.9M	14	0.9B

EZPW Dividend-Like Income Using Covered Calls

With EZPW at 16.36, 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%	0.49	0.1
5%	0.82	0.2
10%	1.64	0.4

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 EZPW Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
May 16	17.50	0.25	22	1.1	1.14 (7.0%)
Sep 19	17.50	1.15	148	0.8	1.14 (7.0%)

5% Yield On EZPW Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
May 16	17.50	0.25	22	1.1	1.14 (7.0%)
Sep 19	17.50	1.15	148	0.8	1.14 (7.0%)

10% Yield On EZPW Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
May 16	17.50	0.25	22	1.1	1.14 (7.0%)
Sep 19	17.50	1.15	148	0.8	1.14 (7.0%)

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