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X Factor: 5 Stocks Reaching Their Ex-Dividend Date on November 16


ResMed, Manulife Financial Corporation, and Prudential Financial are on the list.

MINYANVILLE ORIGINAL Many 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 November 16 as their ex-dividend date. All annual yields are estimated.

ResMed (NYSE:RMD) has a market cap of $5.55 billion. ResMed, through its subsidiaries, engages in the development, manufacture, and distribution of medical equipment for treating, diagnosing, and managing sleep-disordered breathing and other respiratory disorders. It will pay a quarterly dividend of $0.17 on December 18, and its monthly yield will be 0.44% based on yesterday's closing price of $38.82. The company began paying a quarterly dividend this year.

Manulife Financial Corporation (NYSE:MFC) yields 4.36% annually and has a market cap of $21.97 billion. Manulife Financial Corporation, together with its subsidiaries, provides financial protection and wealth management products and services to individuals and group customers primarily in Asia, Canada, and the United States. It will pay a quarterly dividend of $0.13 on December 19, and its quarterly yield will be 1.09% based on yesterday's closing price of $11.92. The company has paid a quarterly dividend since 2000.

Prudential Financial (NYSE:PRU) yields 3.20% annually and has a market cap $23.18 billion. Prudential Financial, through its subsidiaries, provides various financial products and services, including life insurance, annuities, retirement-related services, mutual funds, and investment management services in the United States, Asia, Europe, and Latin America. It will pay an annual dividend of $1.60 on December 14, and its annual yield will be 3.20% based on yesterday's closing price of $49.95. The company has paid an annual dividend since 2002.
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