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

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BankUnited, MDU Resources Group, and Marvell Technology Group are on the list.

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MINYANVILLE ORIGINAL Fifteen stocks will reach their ex-dividend date next Tuesday, 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 December 11 as their ex-dividend date. All annual yields are estimated.

BankUnited (NYSE:BKU) yields 3.60% annually and has a market cap of $2.20 billion. BankUnited, a bank holding company, provides a range of banking products and financial services to commercial and middle-market businesses, as well as individual customers primarily in Florida. It will pay a quarterly dividend of $0.21 on December 27, and its quarterly yield will be 0.90% based on yesterday's closing price of $23.34. The company has paid a quarterly dividend since 2011.

MDU Resources Group (NYSE:MDU) yields 3.37% annually and has a market cap of $3.87 billion. MDU Resources Group operates as a diversified natural resource company in the United States. It will pay a quarterly dividend of $0.1725 on January 1, and its quarterly yield will be 0.78% based on yesterday's closing price of $20.47. The company has paid a quarterly dividend since the end of 1987.

Marvell Technology Group (NASDAQ:MRVL) yields 2.77% annually and has a market cap of $4.63 billion. Marvell Technology Group Ltd. designs, develops, and markets analog, mixed-signal, digital signal processing, and embedded and standalone ARM-based microprocessor integrated circuits. It will pay a quarterly dividend of $0.06 on December 21, and its quarterly yield will be 0.69% based on yesterday's closing price of $8.66. The company began paying a quarterly dividend this year.

Synovus Financial Corporation (NYSE:SNV) yields 1.69% annually and has a market cap of $1.85 billion. Synovus Financial Corporation, a financial services and bank holding company, provides integrated financial services in Georgia, Alabama, South Carolina, Florida, and Tennessee. It will pay a quarterly dividend of $0.01 on January 2, and its quarterly yield will be 0.42% based on yesterday's closing price of $2.38. The company has paid a quarterly dividend since 1990. The dividend is down from a high of $0.21 in 2007.

Berry Petroleum (NYSE:BRY) yields 1.03% annually and has a market cap of $1.68 billion. Berry Petroleum Company, an independent energy company, engages in the acquisition, exploitation, exploration, production, and development of crude oil and natural gas in the United States. It will pay a quarterly dividend of $0.08 on December 28, and its quarterly yield will be 0.26% based on yesterday's closing price of $30.98. The company has paid a dividend since 1990.

(See also: Not All Dividend Stocks Are Equal: Here's How to Choose the Winners.)

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

Mercury General Corporation (NYSE:MCY) yields 5.85% annually and will pay a quarterly dividend of $0.6125 on December 27.

El Paso Electric (NYSE:EE) yields 3.18% annually and will pay a quarterly dividend of $0.25 on December 28.

FlexSteel Industries (NASDAQ:FLXS) yields 3.07% annually and will pay a quarterly dividend of $0.15 on December 28.

Home Federal Bancorp (NASDAQ:HOME) yields 2.04% annually and will pay both a quarterly dividend of $0.06 and a special dividend of $0.12 on December 27.

Gildan Activewear (NYSE:GIL) yields 1.00% annually and will pay a quarterly dividend of $0.09 on January 7.

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

Twitter: @ChrisWitrak
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