PRA Dividend Type Payments

ProAssurance Corporation dividend

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

ProAssurance Corporation (PRA)
Bid Ask Last Change Volume P/E Market Cap
13.64 14.89 14.23 -0.93 197K 18 0.8B

PRA Dividend-Like Income Using Covered Calls

With PRA at 14.23, 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% 0.43 0.1
5% 0.71 0.2
10% 1.42 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 PRA Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Feb 21 15.00 0.20 43 0.5 0.11 (0.8%)
5% Yield On PRA Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Feb 21 15.00 0.20 43 0.5 0.11 (0.8%)
10% Yield On PRA Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Feb 21 15.00 0.20 43 0.5 0.11 (0.8%)

Want to increase dividends with covered calls?  Sign Up For A Free Trial

 
 
Top 10 Open Interest For Jan 17 Expiration     Top 5 High Yield
1.NVDA dividend 6.SPY dividend   1.RCAT dividend
2.SLV dividend 7.XLF dividend   2.DNA dividend
3.AAPL dividend 8.IWM dividend   3.EVH dividend
4.EEM dividend 9.TSLA dividend   4.CIFR dividend
5.INTC dividend 10.TLT dividend   5.CRNC dividend

Want more examples? PQDI Dividend | PRAA Dividend