GLDD Dividend Type Payments

Great Lakes Dredge & Dock Corporation dividend

Although GLDD has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Great Lakes Dredge & Dock Corporation to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Thu 4:16 PM ET):

Great Lakes Dredge & Dock Corporation (GLDD)
Bid Ask Last Change Volume P/E Market Cap
8.50 12.66 11.55 +0.12 457K 13 0.8B

GLDD Dividend-Like Income Using Covered Calls

With GLDD at 11.55, 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% 0.35 0.1
5% 0.58 0.2
10% 1.16 0.3

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 GLDD Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Jun 20 15.00 0.30 184 0.2 2.34 (20.3%)
5% Yield On GLDD Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Jun 20 15.00 0.30 184 0.2 2.34 (20.3%)

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