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 Mon 3:25 PM ET):

Peapack-Gladstone Financial Corporation (PGC)
Bid Ask Last Change Volume P/E Market Cap
32.10 32.24 32.15 +0.01 19K 18 0.6B

PGC Dividend-Like Income Using Covered Calls

With PGC at 32.15, 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% 0.96 0.3
5% 1.61 0.4
10% 3.22 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
Jul 18 35.00 1.55 201 0.8 2.76 (8.6%)
5% Yield On PGC Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Jul 18 35.00 1.55 201 0.8 2.76 (8.6%)

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