STX Dividend Type Payments

Seagate Technology Holdings PLC - Ordinary Shares (Ireland) dividend

Although STX has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Seagate Technology Holdings PLC - Ordinary Shares (Ireland) to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Mon 4:16 PM ET):

Seagate Technology Holdings PLC - Ordinary Shares (Ireland) (STX)
Bid Ask Last Change Volume P/E Market Cap
80.00 83.83 82.16 -0.54 2.9M 15 18B

STX Dividend-Like Income Using Covered Calls

With STX at 82.16, 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% 2.46 0.7
5% 4.11 1.1
10% 8.22 2.3

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 STX Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
May 2 84.00 2.10 5 42.0 0.17 (0.2%)
Jun 6 100.00 0.35 40 0.9 16.17 (19.7%)
5% Yield On STX Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
May 2 84.00 2.10 5 42.0 0.17 (0.2%)
Jun 6 84.00 4.10 40 10.3 0.17 (0.2%)
10% Yield On STX Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
May 2 84.00 2.10 5 42.0 0.17 (0.2%)
Jun 6 84.00 4.10 40 10.3 0.17 (0.2%)

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