X Factor: 5 Stock Reaching Their Ex-Dividend Date on October 15

By Christopher Witrak  OCT 12, 2012 9:55 AM

Pier 1 Imports, EOG Resources, and Teekay Corporation are on the list.

 


MINYANVILLE ORIGINAL Twelve stocks will reach their ex-dividend date tomorrow, 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. The company determines on the record date, which usually occurs two days after the ex-dividend date, which shareholders qualify for the dividend. Shareholders listed as holders of record after the record date then receive their dividend on the date of payment established by the company. Those purchasing right before the record 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 force since it can still take up to three business days for transactions to be credited to and settled in an investor’s account.

Below are five stocks that schedule October 15 as their ex-dividend date. All annual yields are estimated.

Teekay Corporation (NYSE:TK) yields 3.96% annually and has a market cap of $2.21 billion. The marine transporter of crude oil and gas in Bermuda and internationally will pay a quarterly dividend of $0.3162 on October 26, and its quarterly yield will be 0.99% based on yesterday’s closing price of $31.91. The company has paid a quarterly dividend since the end of 1995. Each dividend payment has either increased or remained the same from the prior quarter.

McGrath Rentcorp (NASDAQ:MGRC) yields 3.58% annually and has a market cap of $651.23 million. The business-to-business rental company will pay a quarterly dividend of $0.235 on October 31, and its quarterly yield will be 0.89% based on yesterday's closing price of $26.29. The company has paid a quarterly dividend since the end of 1990. Each dividend payment has either increased or remained the same. Saul Centers (NYSE:BFS) yields 3.20% annually and has market cap of $892.34 million. The real estate investment trust will pay a quarterly dividend of $0.36 on October 31, and its quarterly yield will be 0.80% based on yesterday’s closing price of $45.07. The company began paying a quarterly dividend last year.

Pier 1 Imports (NYSE:PIR) yields 0.85% annually and has a market cap of $1.99 billion. Pier 1 operates as an importer and specialty retailer of imported decorative home furnishings and gifts primarily in the United States and Canada. It will pay a quarterly dividend of $0.04 on October 31. This dividend results in a quarterly yield of 0.21% based on yesterday's closing price of $18.77. The retailer paid a quarterly dividend from 1988 to 2006. After that time, it suspended its dividend payment until this year when it began paying a quarterly dividend again.

EOG Resources (NYSE:EOG) yields 0.62% annually and has a market cap of $29.66 billion. EOG engages in the exploration, development, production, and marketing of crude oil and natural gas primarily in the United States, Canada, the Republic of Trinidad and Tobago, the United Kingdom, the People's Republic of China, and the Argentine Republic. It will pay a quarterly dividend of $0.17 on October 31. Its quarterly yield will be 0.15% based on yesterday’s closing price of $109.83. The company has paid a quarterly dividend since 1990. Each dividend payment has either increased or remained the same from the prior quarter.

These companies also have their ex-dividend date on October 15. All annual yields are estimated.

Brookfield Global Listed Infrastructure (NYSE:INF) yields 7.05% annually and will pay a monthly dividend of $0.1167 on October 25.

Quaker Chemical Corporation (NYSE:KWR) yields 2.11% annually and will pay a quarterly dividend of $0.245 on October 31.

Alamo Group (NYSE:ALG) yields 0.72% annually and will pay a quarterly dividend of $0.06 on October 31.

Kayne Anderson Energy Development Company (NYSE:KED) yields 6.29% annually and will pay a quarterly dividend of $0.43 on October 26.

Bridge Bancorp (NASDAQ:BDGE) yields 3.97% annually and will pay a quarterly dividend of $0.23 on October 30.

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

Twitter: @ChrisWitrak
No positions in stocks mentioned.