MAA Dividend Type Payments

Although MAA has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Mid-America Apartment Communities, Inc. to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Wed 2:35 PM ET):

Mid-America Apartment Communities, Inc. (MAA)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
162.73	162.89	162.81	-2.19	388K	37	19B

MAA Dividend-Like Income Using Covered Calls

With MAA at 162.81, 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%	4.88	1.3
5%	8.14	2.2
10%	16.28	4.5

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 MAA Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Apr 17	165.00	3.30	37	8.9	2.11 (1.3%)
Sep 19	165.00	8.70	192	4.5	2.11 (1.3%)

5% Yield On MAA Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Apr 17	165.00	3.30	37	8.9	2.11 (1.3%)
Sep 19	165.00	8.70	192	4.5	2.11 (1.3%)

10% Yield On MAA Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Apr 17	165.00	3.30	37	8.9	2.11 (1.3%)
Sep 19	165.00	8.70	192	4.5	2.11 (1.3%)

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Want more examples? MA Dividend | MAC Dividend