LZB Dividend Type Payments

La-Z-Boy Incorporated dividend

Although LZB has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on La-Z-Boy Incorporated to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Mon 4:16 PM ET):

La-Z-Boy Incorporated (LZB)
Bid Ask Last Change Volume P/E Market Cap
32.06 43.51 41.12 -0.55 531K 14 1.7B

LZB Dividend-Like Income Using Covered Calls

With LZB at 41.12, 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% 1.23 0.3
5% 2.06 0.6
10% 4.11 1.1

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 LZB Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Apr 17 45.00 0.30 39 0.8 1.49 (3.6%)
Oct 17 45.00 2.10 222 0.9 1.49 (3.6%)
5% Yield On LZB Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Apr 17 45.00 0.30 39 0.8 1.49 (3.6%)
Oct 17 45.00 2.10 222 0.9 1.49 (3.6%)
10% Yield On LZB Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Mar 21 45.00 0.15 12 1.3 1.49 (3.6%)

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Want more examples? LZ Dividend | M Dividend