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X Factor: 5 Stocks Reaching Their Ex-Dividend Date on October 24


HSBC Holdings, Healthcare Services Group, and Pentair are on the list.

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. 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 October 24 as their ex-dividend date. All annual yields are estimated.

HSBC Holdings (NYSE:HBC) yields 5.63% annually and has a market cap of $160.35 billion. The bank has a Retail Banking and Wealth Management business, a Commercial Banking business, and a Global Banking and Markets business. It will pay a quarterly dividend of $0.45 on December 12, and its monthly yield will be 0.90% based on yesterday's closing price of $49.76. The company has paid a quarterly dividend since the second half of 1990. The dividend is down from a high of $0.27 in 2008.

Healthcare Services Group (NASDAQ:HCSG) yields 2.76% annually and has a market cap of $1.62 billion. Healthcare Services Group provides housekeeping, laundry, linen, facility maintenance, and dietary services to nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It will pay a quarterly dividend of $0.165 on November 30, and its quarterly yield will be 0.67% based on Friday's closing price of $23.93. The company first paid dividends in 1984, 1985, 1989, 1990, and 1991. It began paying a quarterly dividend at the end of 2003. Since 2003, each dividend payment has either increased or remained the same from the prior quarter.
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