TAP Dividend Type Payments

Molson Coors Beverage Company Class B dividend

Although TAP has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Molson Coors Beverage Company Class B 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):

Molson Coors Beverage Company Class B (TAP)
Bid Ask Last Change Volume P/E Market Cap
61.57 63.56 62.42 -0.31 2.2M - 12B

TAP Dividend-Like Income Using Covered Calls

With TAP at 62.42, 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% 1.87 0.5
5% 3.12 0.9
10% 6.24 1.7

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 TAP Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Dec 20 65.00 0.60 36 1.7 1.44 (2.3%)
Jan 17 65.00 1.10 64 1.7 1.44 (2.3%)
5% Yield On TAP Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Dec 20 65.00 0.60 36 1.7 1.44 (2.3%)
Jan 17 65.00 1.10 64 1.7 1.44 (2.3%)
10% Yield On TAP Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Jan 17 65.00 1.10 64 1.7 1.44 (2.3%)

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Want more examples? TAN Dividend | TAXF Dividend