PGC Dividend Type Payments

Peapack-Gladstone Financial Corporation dividend

Although PGC has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Peapack-Gladstone Financial Corporation to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Tue 11:00 AM ET):

Peapack-Gladstone Financial Corporation (PGC)
Bid Ask Last Change Volume P/E Market Cap
32.66 32.90 32.80 +0.67 15K 18 0.6B

PGC Dividend-Like Income Using Covered Calls

With PGC at 32.80, 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% 0.98 0.3
5% 1.64 0.4
10% 3.28 0.9

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 PGC Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Apr 17 35.00 0.60 52 1.2 2.10 (6.4%)
Oct 17 35.00 0.80 235 0.3 2.10 (6.4%)
5% Yield On PGC Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Apr 17 35.00 0.60 52 1.2 2.10 (6.4%)
10% Yield On PGC Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Apr 17 35.00 0.60 52 1.2 2.10 (6.4%)

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