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X Factor: 5 Yield-Rich Stocks Reaching Their Ex-Dividend Date on August 27

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Mattel, Great Plains Energy, and Sun Life Financial are on the list.

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MINYANVILLE ORIGINAL Nine 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, which is 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 like 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 the five stocks with the highest estimated annualized dividend yield and that schedule August 27 as their ex-dividend date.

Partner Communications (PTNR) yields 13.00% annually and has a market cap of $627.25 million. The Israeli-based telecommunications company will pay a $0.26 dividend for the first half of 2012 on September 18. Its semi-annual yield will be 6.5% based on yesterday's closing price of $4.03. A dividend has been paid to shareholders since 2005, and this quarter's dividend was increased by 8% from the last dividend of $0.24.

Increased competition in the Israeli cellular market has hurt this company, resulting in a drop in subscribers and lower equipment sales. Revenue in the second quarter of this year dropped 24% from $364 million a year ago. Its net income decline 41% to $31 million from $50.8 million a year ago.

Dominion Resources Black Warrior Trust (DOM) yields 7.87% annually and has the smallest market cap on the list at $48.66 million. The trust, which collects royalty interests from natural gas properties, will pay a dividend of $0.10 on September 7. Its quarterly yield will be 1.54% based on yesterday's closing price of $6.49. Since 1995, the trust has consistently paid a quarterly dividend to its unitholders; however, the dividend has decreased since 2009.

The trust's second-quarter royalty income has dropped 37.83% to $1,291,584 from $2,077,474 in the prior-year quarter.

Sun Life Financial (SLF) yields 6.19% annually and has a market cap of $13.11 billion. The international financial services company will pay a quarterly dividend of $0.36 on September 28. Its quarterly yield will be 1.55% based on yesterday's closing price of $23.26. The company has paid a quarterly dividend since the fourth quarter of 2000.

Lower interest rates and weak equity markets have hurt the company's finances recently. Its second-quarter earnings came in significantly weaker than expected with a net income of $50.5 million compared to $421.4 million in the prior-year quarter. However, its revenue came in 17.3% stronger at $5.99 billion compared to $5.33 billion a year ago.

Great Plains Energy (GXP) yields 3.92% annually. The company pays a quarterly dividend of $0.2125 on September 20 and has a market cap of $3.28 billion. Its quarterly yield will be 0.98% based on yesterday's closing price of $21.70. Great Plains has consistently paid a quarterly dividend since the fourth quarter of 1987, but it cut the dividend in half in 2008 to its current amount.

The utilities holding company's recent financial performance has been aided by the warmer weather and increased demand for electricity. For its second quarter of this year, it earned $57.7 million, or $0.41 per share, compared to last year's earnings of $43.0 million, or $0.31 per share, in the same quarter. The Electric Utility segment grew the most by earning $15 million more than the prior-year quarter.

Mattel (MAT) yields 3.47% annually and pays a quarterly dividend of $0.31 on September 21. This dividend yields 0.87% based on yesterday's closing price of $35.48. The global toy company has a market cap of $12.06 billion and has paid a dividend at least once a year since 1990. It dramatically increased its dividend in 2003 and began paying a dividend quarterly again in 2011.

Despite consumers cutting back on spending, second-quarter earnings surprised analysts, beating expectations by 33%. Mattel earned $0.28 per share compared to $0.23 per share during the prior-year quarter. Analysts had expected Mattel to earn $0.21 per share and have revised earning estimates for the rest of 2012 and 2013 upwards.

These companies also have their ex-dividend date on August 24. All yields are estimated annualized yields.

AMCOL International (ACO) yields 2.61% annually.

Everest Re Group (RE) yields 1.85% annually.

Barnes Group (B) yields 1.66% annually.

Mesa Laboratories (MLAB) yields 1.10% annually.

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

(See also: 11 High-Quality Dividend-Paying Stocks to Consider Ahead of First Quarter.)

Twitter: @ChrisWitrak
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