TECH Dividend Type Payments

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

Bio-Techne Corp (TECH)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
52.30	58.50	53.14	-0.04	812K	64	8.3B

TECH Dividend-Like Income Using Covered Calls

With TECH at 53.14, 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%	1.59	0.4
5%	2.66	0.7
10%	5.31	1.5

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 TECH Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Jan 16	60.00	2.40	198	1.2	1.50 (2.8%)

5% Yield On TECH Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Jan 16	60.00	2.40	198	1.2	1.50 (2.8%)

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