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

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Kimco Realty Corporation, Dell, and State Street Corporation are on the list.

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MINYANVILLE ORIGINAL Many stocks will reach their ex-dividend date next Friday, 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 28 as their ex-dividend date. All annual yields are estimated.

Kimco Realty Corporation (NYSE:KIM) yields 4.27% annually and has a market cap of $7.98 billion. The independent real estate investment trust, or REIT, will pay a quarterly dividend of $0.21, on January 15. The quarterly yield will be 1.07% based on yesterday's closing price of $19.66. The REIT has paid a quarterly dividend since 1992, and the dividend is down from a high of $0.44 in 2009.

Dell (NASDAQ:DELL) yields 3.05% annually and has a market cap of $17.89 billion. Dell provides integrated technology solutions in the information technology industry worldwide. It will pay a quarterly dividend of $0.08 on January 23, and its quarterly yield will be 0.76% based on yesterday's closing price of $10.50. Dell began paying a quarterly dividend this year.

State Street Corporation (NYSE:STT) yields 2.06% annually and has a market cap of $21.34 billion. State Street Corporation, a financial holding company, provides various financial products and services to institutional investors worldwide. It will pay a quarterly dividend of $0.24 on January 15 and its quarterly yield will be 0.52% based on yesterday's closing price of $46.55. The company has paid a quarterly dividend since the second half of 1987.

Comcast Corporation (NASDAQ:CMCSA) yields 1.71% annually and has a market cap of $99.59 billion. Comcast Corporation provides entertainment, information, and communications products and services in the United States and internationally. It will pay a quarterly dividend of $0.1625 on January 23, and its quarterly yield will be 0.43% based on yesterday's closing price of $38.09. Comcast has paid a quarterly dividend since 1990.

Gap (NYSE:GPS) yields 1.57% annually and has a market cap of $15.05 billion. The Gap operates as a specialty retailer. The company offers apparel, accessories, and personal care products for men, women, children, and babies under the Gap, Old Navy, Banana Republic, Piperlime, and Athleta brand names. It will pay a quarterly dividend of $0.125 on January 30, and its quarterly yield will be 0.39% based on yesterday's closing price of $31.75. Gap has paid a quarterly dividend since second half of 1987.

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

Liberty Property Trust (NYSE:LRY) yields 5.32% annually and will pay a quarterly dividend of $0.475 on January 15.

Essex Property Trust (NYSE:ESS) yields 3.00% annually and will pay a quarterly dividend of $1.10 on January 15.

HCC Insurance Holdings (NYSE:HCC) yields 1.75% annually and will pay a quarterly dividend of $0.165 on January 16.

Raymond James Financial (NYSE:RJF) yields 1.42% annually and will pay a quarterly dividend of $0.14 on January 16.

Wolverine World Wide (NYSE:WWW) yields 1.19% and will pay a quarterly dividend of $0.12 on February 1.

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

Twitter: @ChrisWitrak
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