MINYANVILLE ORIGINAL Many stocks will reach their ex-dividend date this Friday, 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 November 23 as their ex-dividend date. All annual yields are estimated.
Six Flags Entertainment
(NYSE:SIX) yields 6.32% annually and has a market cap of $3.04 billion. Six Flags Entertainment owns and operates regional theme, water, and zoological parks. It will pay a quarterly dividend of $0.90 on December 10, and its quarterly yield will be 1.58% based on yesterday’s closing price of $57.00. The company has paid a quarterly dividend since the end of 2010.
Johnson & Johnson
(NYSE:JNJ) yields 3.52% annually and has market cap of $192.33 billion. Johnson & Johnson, together with its subsidiaries, engages in the research and development, manufacture, and sale of various products in the health care field worldwide. It will pay a quarterly dividend of $0.61 on December 11, and its quarterly yield will be 0.88% based on yesterday’s closing price of $69.25. The company has paid a quarterly dividend since 1972, and each dividend payment has either increased or remained the same from the previous quarter.
(NYSE:KEY) yields 2.45% annually and has a market cap $7.70 billion. KeyCorp operates as a holding company for KeyBank National Association, which provides various banking services in the United States. It will pay a quarterly dividend of $0.05 on December 14, and its quarterly yield will be 0.61% based on yesterday's closing price of $8.17. The company has paid a quarterly dividend since the end of 1987. The dividend is down from a high of $0.38 in 2008. Hecla Mining
(NYSE:HL) yields 1.56% annually and has a market cap of $1.64 billion. Hecla Mining Company, together with its subsidiaries, discovers, acquires, develops, produces, and markets precious and base metals worldwide. It will pay a quarterly dividend of $0.0225 on December 5, and its quarterly yield will be 0.39% based on yesterday’s closing price of $5.77. The company paid a dividend from 1985 through 1990 and then began paying a quarterly dividend again in the second half of 2011.
Delek US Holdings
(NYSE:DK) yields 1.54% and has a market cap of $1.55 billion. Delek US Holdings, an integrated energy company, engages in refining, marketing, supplying, and retailing petroleum products. It will pay a quarterly dividend of $0.10 on December 18, and its monthly yield will be 0.38% based on yesterday’s closing price of $26.01. The company began paying a quarterly dividend at the end of 2006.
These companies also have their ex-dividend date on November 23. All annual yields are estimated.
American Financial Group
(NYSE:AFG) yields 6.03% annually and will pay a quarterly dividend of $0.3984 on December 12.
(NASDAQ:IXYS) yields 1.37% annually and will pay a quarterly dividend of $0.03 on December 18.
Bridgford Foods Corporation
(NASDAQ:BRID) will pay a special dividend of $0.05 on December 24.
(NASDAQ:MASI) yields will pay a special dividend of $1.00 on December 11.
Outdoor Channel Holdings
(NASDAQ:OUTD) will pay a special dividend of $0.25 on December 7.
Purchase -- and have your broker settle
-- before the ex-dividend date to secure the dividend.
No positions in stocks mentioned.