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X Factor: 5 Stocks Reaching Their Ex-Dividend Date on January 2

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Bristol-Myers Squibb, BB&T Corporation, and JPMorgan Chase are on the list.

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MINYANVILLE ORIGINAL Many stocks will reach their ex-dividend date next Wednesday, 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 2 as their ex-dividend date. All annual yields are estimated.

Bristol-Myers Squibb (NYSE:BMY) yields 4.31% annually and has a market cap of $53.36 billion. Bristol-Myers Squibb, a biopharmaceutical company, engages in the discovery, development, licensing, manufacturing, marketing, distribution, and sale of biopharmaceutical products that help patients prevail over serious diseases worldwide. It will pay a quarterly dividend of $0.35 on February 1, and its quarterly yield will be 1.08% based on Monday's closing price of $32.46. The company has paid a quarterly dividend since 1970.

BB&T Corporation (NYSE:BBT) yields 2.74% annually and has a market cap of $20.46 billion. BB&T Corporation operates as a financial holding company for Branch Banking and Trust Company that provides various banking and trust services for retail and commercial clients. It will pay a quarterly dividend of $0.20 on February 1 and its quarterly yield will be 0.68% based on Monday's closing price of $29.24. The holding company has paid a dividend since 1990 and a quarterly dividend since 1992. The dividend is down from a high of $0.47 in 2009.

JPMorgan Chase (NYSE:JPM) yields 2.73% annually and has a market cap of $167.87 billion. JPMorgan Chase & Co., a financial holding company, provides various financial services worldwide. It will pay a quarterly dividend of $0.30 on January 31, and its quarterly yield will be 0.68% based on Monday's closing price of $43.92. The holding company has paid a quarterly dividend since 1984.

American Express Company (NYSE:AXP) yields 1.39% annually and has a market cap of $64.38 billion. American Express Company provides charge and credit payment card products and travel-related services to customers worldwide. It will pay a quarterly dividend of $0.20 on February 8, and its quarterly yield will be 0.35% based on Monday's price of $57.53. The company has paid a quarterly dividend since 1989.

Itaú Unibanco Holding S.A. (NYSE:ITUB) yields 0.54% annually and has a market cap of $74.14 billion. Itaú Unibanco Holding S.A. provides a range of credit and other financial services to individuals and companies in Brazil and internationally. It will pay a monthly dividend of $0.0072 on February 11. The monthly yield will be 0.0004% based on Monday's closing price of $16.15.

These companies also have their ex-dividend date on January 2. All annual yields are estimated.

Enerplus Corporation (NYSE:ERF) yields 8.48% annually and will pay a monthly dividend of $0.09 on January 21.

Sysco Corporation (NYSE:SYY) yields 3.51% annually and will pay a quarterly dividend of $0.28 on January 25.

Masco Corporation (NYSE:MAS) yields 1.82% annually and will pay a quarterly dividend of $0.075 on February 4.

Monsanto Company (NYSE:MON) yields 1.62% annually and will pay a quarterly dividend of $0.375 on January 2.

Royal Gold (NASDAQ:RGLD) yields 1.02% annually and will pay a quarterly dividend of $0.20 on January 18.

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

Twitter: @ChrisWitrak
No positions in stocks mentioned.
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