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X Factor: 5 Stocks Reaching Their Ex-Dividend Date on October 1

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Comcast Corporation, Toronto-Dominion Bank, and Raytheon Corporation are on the list.

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MINYANVILLE ORIGINAL Ten 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. 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 effect 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 1 as their ex-dividend date. All annual yields are estimated.

Mack-Cali Realty Corporation (NYSE:CLI) yields 6.69% annually and has a market cap of $2.36 billion. The real estate investment trust, or REIT, will pay a quarterly dividend of $0.45 on October 12. This dividend results in a quarterly yield of 1.67% based on yesterday's closing price of $26.89. The REIT has paid a quarterly dividend since the second half of 1994. The dividend is down from a high of $0.64 in 2009.

Kimco Realty Corporation (NYSE:KIM) yields 3.74% annually and has a market cap of $8.28 billion. The REIT will pay a quarterly dividend of $0.19 on October 15, and its quarterly yield will be 0.93% based on yesterday's closing price of $20.34. The company has paid a quarterly since 1994. The dividend is down from a high of $0.44 in 2009.

Toronto-Dominion Bank (NYSE:TD) yields 3.67% annually and has a market cap of $76.57 billion. The provider of financial and banking services in North America and internationally will pay a quarterly dividend of $0.77 on October 31. Its quarterly yield will be 0.92% based on yesterday's closing price of $83.99. The bank has paid a quarterly dividend since the second half of 1996.

Raytheon Corporation (NYSE:RTN) yields 3.48% annually. The company produces military electronics for defense, homeland security, and other government markets and has a market cap of $19.10 billion. It will pay a quarterly dividend of $0.50 on November 1, and its quarterly yield will be 0.87% based on yesterday's closing price of $57.54. The company has paid a quarterly dividend since 1964.

Comcast Corporation (NASDAQ:CMCSA) yields 1.82% annually and has a market cap of $95.75 billion. The international provider of entertainment, information, and communications products will pay a quarterly dividend of $0.1625 on October 24, and its quarterly yield will be 0.45% based on yesterday's closing price of $35.78. The company paid a quarterly dividend from 1990 through the first quarter of 1999, after which no dividend was paid until 2008 when it began paying a quarterly dividend again.

These companies also have their ex-dividend date on October 1. All annual yields are estimated.

CVB Financial (NASDAQ:CVBF) yields 2.81% annually and will pay a dividend of $0.085 on October 18.

First of Long Island Corporation (NASDAQ:FLIC) yields 3.18% annually and will pay a quarterly dividend of $0.25 on October 12.

Ingredion (NYSE:INGR) yields 1.89% annually and will pay a quarterly dividend of $0.26 on October 25

Itau Unibanco Holding S.A. (NYSE:ITUB) yields 0.58% annually and will pay a monthly dividend of $0.0074 on November 13.

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

(See also The 10 Smallest Cap ETFs With Biggest Institutional Investment)

Twitter: @ChrisWitrak
No positions in stocks mentioned.
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