PK Dividend Type Payments

Although PK has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Park Hotels & Resorts Inc. 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):

Park Hotels & Resorts Inc. (PK)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
13.63	13.97	13.80	+0.09	2.3M	8.8	2.8B

PK Dividend-Like Income Using Covered Calls

With PK at 13.80, 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%	0.41	0.1
5%	0.69	0.2
10%	1.38	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 PK Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Apr 17	15.00	0.15	93	0.2	1.03 (7.5%)
Feb 21	15.00	0.10	38	0.3	1.03 (7.5%)

5% Yield On PK Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Feb 21	15.00	0.10	38	0.3	1.03 (7.5%)

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Want more examples? PJT Dividend | PKB Dividend