XLI Dividend Type Payments

Although XLI has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on State Street Industrial Select Sector SPDR ETF 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):

State Street Industrial Select Sector SPDR ETF (XLI)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
157.05	158.90	157.21	-0.29	4.1M	-	24B

XLI Dividend-Like Income Using Covered Calls

With XLI at 157.21, 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%	4.72	1.3
5%	7.86	2.2
10%	15.72	4.3

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 XLI Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Jun 18	159.00	4.55	175	2.6	0.10 (0.1%)
Sep 18	159.00	7.40	267	2.8	0.10 (0.1%)

5% Yield On XLI Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Jun 18	159.00	4.55	175	2.6	0.10 (0.1%)
Sep 18	159.00	7.40	267	2.8	0.10 (0.1%)

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Want more examples? XLG Dividend | XLK Dividend