X Factor: 5 Stocks Reaching Their Ex-Dividend Date on September 10

By Christopher Witrak  SEP 07, 2012 10:20 AM

Hewlett-Packard, Ameren Corp., and Texas Roadhouse are on the list.

 


MINYANVILLE ORIGINAL Many stocks will reach their ex-dividend date next Monday, which is significant for investors as the seller of the stock on that date, not the buyer, receives the most recent dividend.

A stock must be bought one day before the ex-dividend date to claim any dividends that have been announced but not yet paid. Dividends are paid on the dividend record date, usually two business days after the ex-dividend date.

Purchasers must own a stock several days prior to the dividend record date to get the dividend. Those purchasing right before the date forfeit the dividend and normally get the stock for a reduced amount.

It may seem an anachronism in this era of high frequency trading, but the dividend rate rules are in effect since it can still take up to three business days for transactions to be credited to and settled in an investor’s account. (See also: 10 Undervalued Dividend-Paying Stocks With Momentum.)

Below are stocks that schedule September 10 as their ex-dividend date. All annual yields are estimated.

Ameren Corp. (AEE) yields 4.82% annually and has a market cap of $8.05 billion. The parent company of Missouri’s biggest electric provider and Illinois’s third biggest natural gas provider will pay a quarterly dividend of $0.40 on September 28. Its quarterly yield will be 1.21% based on yesterday’s closing price of $33.19. The company has been paying a quarterly dividend since 1998.

Hewlett-Packard (HPQ) yields 3.07% annually and has a market cap of $34.76 billion. The global technology and software company will pay a quarterly dividend of $0.132 on October 3. Its quarterly yield will be 0.75% based on last Friday’s closing price of $17.59. The company began paying a semi-annual dividend in 1965 and switched to a quarterly dividend in 1978.

Public Storage (PSA) yields 2.98% annually. The self-storage facility operator has a market cap of $25.30 billion and will pay a quarterly dividend of $1.10 on September 27. Its quarterly yield will be 0.75% based on last Friday’s closing price of $147.48. The company has paid a quarterly dividend since 1988.

PS Business Parks (PSB) yields 2.51% annually and has a market cap of $1.70 billion. The commercial real estate company will pay a quarterly dividend of $0.44 on September 27. This dividend results in a quarterly yield of 0.63% based on yesterday’s closing price of $70.01. The company has been paying a quarterly dividend since the middle of 1995.

Texas Roadhouse (TXRH) yields 2.01% annually and has a market cap of $1.26 billion. The steak restaurant chain will pay a quarterly dividend of $0.09 on September 28. Its quarterly yield will be 0.50% based on yesterday’s closing price of $17.92. The company began paying a quarterly dividend in 2011.

These companies also have their ex-dividend date on September 10. All annual yields are estimated.

Triangle Capital Corporation (TCAP) yields 8.07% annually and will pay a quarterly dividend of $0.52 on September 26.

State Auto Financial Corp. (STFC) yields 4.12% annually and will pay a quarterly dividend of $0.15 on September 28.

OPNET Technologies (OPNT) yields 1.84% annually and will pay a quarterly dividend of $0.15 on September 26.

Beacon Federal Bancorp. (BFED) yields 0.98% annually and will pay a quarterly dividend of $0.07 on September 21.

News Corp. (NWSA) yields 0.69% annually and will pay a quarterly dividend of $0.085 on October  17.

Purchase -- and have your broker settle -- before the ex-dividend date to secure the dividend.

(See also: 11 High-Quality Dividend-Paying Stocks to Consider Ahead of First Quarter)

Twitter: @ChrisWitrak
No positions in stocks mentioned.