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X Factor: 5 Stocks Reaching Their Ex-Dividend Date on January 3

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The First Bancorp, Gentex Corporation, and WD-40 Company are on the list.

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MINYANVILLE ORIGINAL Five stocks will reach their ex-dividend date next Thursday, 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 3 as their ex-dividend date. All annual yields are estimated.

The First Bancorp (NASDAQ:FNLC) yields 4.87% annually and has a market cap of $157.75 million. The First Bancorp operates as the holding company for The First, N.A., which is a chartered national bank that provides various banking services to individual and corporate customers in coastal Maine. It will pay a quarterly dividend of $0.195 on January 31 and its quarterly yield will be 1.22% based on yesterday's closing price of $16.01. The holding company has paid a quarterly dividend since the second half of 1999, and each dividend payment has either increased or remained the same from the prior quarter.

Gentex Corporation (NASDAQ:GNTX) yields 2.79% annually and has a market cap of $2.66 billion. Gentex Corporation designs, develops, manufactures, and markets electro-optical products for the automotive, commercial building, and aircraft industries primarily in the United States, Germany, and Japan. It will pay a quarterly dividend of $0.13 on January 18, and its quarterly yield will be 0.70% based on yesterday's closing price of $18.62. The company has paid a quarterly dividend since the end of 2003, and each dividend payment has either increased or remained the same from the prior quarter.

WD-40 Company (NASDAQ:WDFC) yields 2.71% annually and has a market cap of $721.48 million. WD-40 Company engages in the provision of consumer products worldwide. It will pay a quarterly dividend of $0.31 on January 31, and its quarterly yield will be 0.68% based on yesterday's closing price of $45.75. The company has paid a quarterly dividend since 1973.

Werner Enterprises (NASDAQ:WERN) yields 0.93% annually and has a market cap of $1.57 billion. Werner Enterprises, a transportation and logistics company, engages primarily in hauling truckload shipments of general commodities in both interstate and intrastate commerce in the United States and internationally. It will pay a quarterly dividend of $0.05 on January 22. The quarterly yield will be 0.0023% based on yesterday's closing price of $21.55.

Banco Bradesco S.A. (NYSE:BBD) yields 0.60% annually and has a market cap of $66.12 billion. Banco Bradesco S.A. provides a range of banking and financial products and services to individuals; large, mid-sized, and small companies; and local and international corporations and institutions. It will pay an extra dividend of $0.0074 on February 11, and the yield of this special dividend will be 0.0004% based on yesterday's closing price of $17.32.

Twitter: @ChrisWitrak
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No positions in stocks mentioned.
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