PH Dividend Type Payments

Parker-Hannifin Corporation dividend

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

Parker-Hannifin Corporation (PH)
Bid Ask Last Change Volume P/E Market Cap
643.46 695.00 660.59 +3.42 500K 27 85B

PH Dividend-Like Income Using Covered Calls

With PH at 660.59, 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% 19.82 5.4
5% 33.03 9.0
10% 66.06 18.1

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 PH Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Aug 15 700.00 30.00 171 17.5 5.00 (0.8%)
May 16 700.00 15.30 80 19.1 5.00 (0.8%)
5% Yield On PH Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Aug 15 700.00 30.00 171 17.5 5.00 (0.8%)
May 16 700.00 15.30 80 19.1 5.00 (0.8%)
10% Yield On PH Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
May 16 700.00 15.30 80 19.1 5.00 (0.8%)

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