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X Factor: 5 Stocks Reaching Their Ex-Dividend Date on September 7

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CenturyLink, Best Buy, and The Men's Wearhouse are on the list.

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MINYANVILLE ORIGINAL Twelve 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. Dividends are paid on the dividend record date, usually two business days after the ex-dividend date.

Purchasers must own a stock several days prior to the dividend record date to get the dividend. Those purchasing right before the 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. (See also: 10 Undervalued Dividend-Paying Stocks With Momentum.)

Below are five stocks that schedule September 7 as their ex-dividend date. All annual yields are estimated.

CenturyLink (CTL) yields 6.79% annually and has a market cap of $26.59 billion. The third largest telecommunications company in the country will pay a quarterly dividend of $0.725 on September 21. Its quarterly yield will be 1.70% based on yesterday's closing price of $42.70. The company has been paying a quarterly dividend since the final quarter of 1987.

The Laclede Group (LG) yields 3.91% annually and has a market cap of $955.77 million. The natural gas holding company will pay a quarterly dividend of $0.415 on October 2. Its quarterly yield will be 0.98% based on last Friday's closing price of $42.46. The company has been paying a dividend since 1987 and a quarterly dividend since 1989.

Best Buy (BBY) yields 3.80% annually. The global consumer electronics retailer has a market cap of $6.09 billion and will pay a quarterly dividend of $0.17 on October 2. Its monthly yield will be 0.95% based on last Friday's closing price of $17.91. The company has paid a dividend since the end of 2003. The dividend has never been reduced since the beginning of payouts

Ventas (VTR) yields 3.74% annually and has a market cap of $19.57 billion. The senior housing and health care real estate investment trust (REIT) will pay a quarterly dividend of $0.62 on September 28. Its quarterly yield will be 0.94% based on yesterday's closing price of $66.24. The company began paying a dividend in 1999, and it began paying a quarterly dividend in 2001.

Fidus Investment Corporation (FDUS) yields 8.22% annually and has a market cap of $155.92 million. The business development company will pay a quarterly dividend of $0.38 on October 2. This dividend results in a quarterly yield of 2.30% based on yesterday's closing price of $16.54. The company began paying a quarterly dividend in the middle of last year.
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