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X Factor: 5 Stocks Reaching Their Ex-Dividend Date on January 11

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ARMOUR Residential REIT, Fifth Street Finance, and Freeport-McMoRan Copper & Gold are on the list.

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MINYANVILLE ORIGINAL Many stocks will reach their ex-dividend date next 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 four stocks that schedule January 11 as their ex-dividend date. All annual yields are estimated.

ARMOUR Residential REIT (NYSE:ARR) yields 14.01% annually and has a market cap of $2.04 billion. The residential real estate investment trust, or REIT, will pay a monthly dividend of $0.08 on January 30. The monthly yield will be 1.17% based on yesterday's closing price of $6.85. The REIT has paid a dividend since 2010 and a monthly dividend since 2011.

Fifth Street Finance (NASDAQ:FSC) yields 10.72% annually and has a market cap of $1.14 billion. Fifth Street Finance is a business development company. It will pay a monthly dividend of $0.0958 on January 31. The monthly yield will be 0.89% based on yesterday's closing price of $10.73. The company has paid a dividend since 2008 and a monthly dividend since 2011.

Freeport-McMoRan Copper & Gold (NYSE:FCX) yields 3.59% annually and has a market cap of $33.08 billion. Freeport-McMoRan Copper & Gold engages in the exploration, mining, and production of mineral resources. It will pay a quarterly dividend of $0.3125 on February 1, and its quarterly yield will be 0.90% based on yesterday's closing price of $34.85. The company first paid a dividend from the end of 1995 through 1998 and then resumed paying a quarterly dividend in 2003.

Chesapeake Energy Corporation (NYSE:CHK) yields 2.09% annually and has a market cap of $10.81 billion. Chesapeake Energy Corporation engages in the acquisition, exploration, development, and production of natural gas and oil properties in the United States. It will pay a quarterly dividend of $0.0875 on January 31, and its quarterly yield will be 0.52% based on yesterday's closing price of $16.77. The company has paid a quarterly dividend since 1997, and each dividend payment has either increased or remained the same from the prior quarter.

Abbott Laboratories (NYSE:ABT) yields 1.68% annually and has a market cap of $52.59 billion. Abbott Laboratories engages in the discovery, development, manufacture, and sale of health care products worldwide. It will pay a quarterly dividend of $0.14 on February 15, and its quarterly yield will be 0.42% based on yesterday's closing price of $33.27. The company has paid a quarterly dividend since 1993, and each dividend payment has either increased or remained the same from the prior quarter.

These companies also have their ex-dividend date on January 11. All annual yields are estimated.

Hercules Technology Growth Capital (NYSE:HTGZ) yields 8.06% annually and will pay a quarterly dividend of $0.4375 on January 30.

PrivateBancorp (NASDAQ:PVTB) yields 7.83% annually and will pay a quarterly dividend of $0.50 on January 30.

Shaw Communications (NYSE:SJR) yields 3.92% annually and will pay a monthly dividend of $0.0808 on January 30.

Harsco Corporation (NYSE:HSC) yields 3.38% annually and will pay a quarterly dividend of $0.205 on February 15.

Ryland Group (NYSE:RYL) yields 0.32% annually and will pay a quarterly dividend of $0.03 on January 30.

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

Twitter: @ChrisWitrak
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