GNK Dividend Type Payments
Although GNK has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Mon 11:00 AM ET):
Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) (GNK) | ||||||
---|---|---|---|---|---|---|
Bid | Ask | Last | Change | Volume | P/E | Market Cap |
17.51 | 17.52 | 17.52 | +0.26 | 131K | 11 | 0.8B |
GNK Dividend-Like Income Using Covered Calls
With GNK at 17.52, 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% | 0.53 | 0.1 |
5% | 0.88 | 0.2 |
10% | 1.75 | 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 GNK Using Covered Calls | ||||||
---|---|---|---|---|---|---|
Expiration | Strike | Call Bid | Days | Cents/Day | Upside Potential | |
Dec 20 | 17.50 | 0.55 | 33 | 1.6 | 0.00 (0.0%) | |
May 16 | 17.50 | 1.30 | 180 | 0.7 | 0.00 (0.0%) |
5% Yield On GNK Using Covered Calls | ||||||
---|---|---|---|---|---|---|
Expiration | Strike | Call Bid | Days | Cents/Day | Upside Potential | |
Dec 20 | 17.50 | 0.55 | 33 | 1.6 | 0.00 (0.0%) | |
May 16 | 17.50 | 1.30 | 180 | 0.7 | 0.00 (0.0%) |
10% Yield On GNK Using Covered Calls | ||||||
---|---|---|---|---|---|---|
Expiration | Strike | Call Bid | Days | Cents/Day | Upside Potential | |
Dec 20 | 17.50 | 0.55 | 33 | 1.6 | 0.00 (0.0%) | |
May 16 | 17.50 | 1.30 | 180 | 0.7 | 0.00 (0.0%) |
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Top 10 Open Interest For Dec 20 Expiration | Top 5 High Yield | |||||
---|---|---|---|---|---|---|
1. | NVDA dividend | 6. | QQQ dividend | 1. | SAVA dividend | |
2. | SPY dividend | 7. | XLF dividend | 2. | CRVS dividend | |
3. | EEM dividend | 8. | KWEB dividend | 3. | ANAB dividend | |
4. | FXI dividend | 9. | TLT dividend | 4. | CLSK dividend | |
5. | IWM dividend | 10. | KRE dividend | 5. | APP dividend |
Want more examples? GNE Dividend | GNL Dividend