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X Factor: 5 Stocks Reaching Their Ex-Dividend Date on January 28

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Ford, Western Refining, and Brown & Brown are on the list.

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Sixteen stocks will reach their ex-dividend date next Monday, 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 January 28 as their ex-dividend date. All annual yields are estimated.

Ford (NYSE:F) yields 2.84% annually and has a market cap of $53.80 billion. The car manufacturer will pay a quarterly dividend of $0.10 on March 1, and its quarterly yield will be 0.71% based on Friday's closing price of $14.11. The company has paid a quarterly dividend since 1956, except for 1982 and from 2007 to 2011.

Western Refining (NYSE:WNR) yields 1.63% annually and has a market cap of $2.59 billion. The crude oil refiner will pay a quarterly dividend of $0.12 on February 14, and its quarterly yield will be 0.41% based on Friday's closing price of $29.59. The company first paid a quarterly dividend from 2006 through 2008 and began paying a dividend again last year.

Brown & Brown (NYSE:BRO) yields 1.33% annually and has a market cap of $3.89 billion. The insurance provider in the United States will pay a quarterly dividend of $0.09 on February 13. Its quarterly yield will be 0.34% based on Friday's closing price of $26.78. The company has paid a quarterly dividend since 1992, and each dividend payment has either increased or remained the same from the prior quarter.

ADT Corporation (NYSE:ADT) yields 1.04% annually and has a market cap of $11.18 billion. ADT provides electronic security services for businesses and homes in the United States and Canada. It will pay a quarterly dividend of $0.125 on February 20. The quarterly yield will be 0.26% based on Friday's closing price of $47.98. The company began paying a quarterly dividend last quarter.

Cabot Oil & Gas Corporation (NYSE:COG) yields 0.16% annually and has a market cap of $10.86 billion. Cabot Oil & Gas operates in multiple segments of the oil and natural gas industries, including development, exploitation, exploration, production, and marketing of oil, natural gas, and liquid natural gas. It will pay a quarterly dividend of $0.02 on February 13. Its quarterly yield will be 0.04% based on Friday's closing price of $51.38. The company has paid a quarterly dividend since 1990.

These companies also have their ex-dividend date on January 28. All annual yields are estimated.

Nordic American Tankers Limited (NYSE:NAT) yields 7.31% annually and will pay a quarterly dividend of $0.16 on February 13.

Costamare (NYSE:CMRE) yields 7.11% annually and will pay a quarterly dividend of $0.27 on February 13.

Tanger Factory Outlet Centers (NYSE:SKT) yields 2.39% annually and will pay a quarterly dividend of $0.21 on February 15.

Cal-Maine Foods (NASDAQ:CALM) yields 1.94% annually and will pay a quarterly dividend of $0.199 on February 14.

AptarGroup (NYSE:ATR) yields 1.92% annually and will pay a quarterly dividend of $0.25 on February 20.

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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