YieldMax Raises PYPY Weekly Distribution to $0.2847 Per Share

YieldMax raised the weekly distribution for the YieldMax PYPL Option Income Strategy ETF (PYPY) to $0.2847 per share, about 71% above the prior week’s payout, with the next payment scheduled for Nov. 6.

Thursday, Nov. 5, is both the fund’s ex-dividend date and record date. The new distribution compares with $0.1665 declared the previous week. The record date determines which shareholders qualify for the payment.

The fund’s 55.65% annualized distribution rate uses the latest payment and its most recent net asset value (NAV), based on the Nov. 3 close. The rate does not represent total return. PYPY’s 4.25% 30-day SEC yield covers the period ending Oct. 31 and excludes option income. The measures differ: the distribution rate annualizes the latest payment, while the SEC yield measures net investment income.

PYPY seeks weekly income by selling call spreads on PayPal Holdings Inc. (PYPL). Distributions are variable and not guaranteed. They may include ordinary dividends, capital gains or return of capital; return of capital can reduce the fund’s NAV and trading price.

The fund set a $0.1539-per-share distribution on Oct. 14, as detailed in earlier PYPY payout coverage.