MANU Dividend Type Payments

Although MANU has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Manchester United Ltd. Class A Ordinary Shares to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Tue 4:16 PM ET):

Manchester United Ltd. Class A Ordinary Shares (MANU)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
14.48	14.99	14.76	+0.02	275K	-	2.4B

MANU Dividend-Like Income Using Covered Calls

With MANU at 14.76, 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%	0.44	0.1
5%	0.74	0.2
10%	1.48	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 MANU Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Mar 7	15.00	0.11	11	1.0	0.01 (0.1%)
Apr 17	15.00	0.47	52	0.9	0.01 (0.1%)

5% Yield On MANU Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Mar 7	15.00	0.11	11	1.0	0.01 (0.1%)
Apr 17	15.00	0.47	52	0.9	0.01 (0.1%)

10% Yield On MANU Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Mar 7	15.00	0.11	11	1.0	0.01 (0.1%)
Apr 17	15.00	0.47	52	0.9	0.01 (0.1%)

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