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X Factor: 5 Stocks Reaching Their Ex-Dividend Date on December 17

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DTE Energy, Cincinnati Financial Corporation, and Tupperware Brands Corporation are on the list.

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MINYANVILLE ORIGINAL Many 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 December 17 as their ex-dividend date. All annual yields are estimated.

DTE Energy (NYSE:DTE) yields 4.06% annually and has a market cap of $10.54 billion. DTE Energy Company, together with its subsidiaries, operates as an electric and natural gas utility company in Michigan. It will pay a quarterly dividend of $0.62 on January 15, and its quarterly yield will be 1.01% based on yesterday's closing price of $61.15. The company has paid a quarterly dividend since 1991.

Cincinnati Financial Corporation (NASDAQ:CINF) yields 4.02% annually and has a market cap of $6.61 billion. Cincinnati Financial Corporation engages in the property casualty insurance business in the United States. It will pay a quarterly dividend of $0.4075 on January 15, and its quarterly yield will be 1.00% based on yesterday's closing price of $40.58. The company has paid a quarterly dividend since the second half of 1990, and each dividend payment has either increased or remained the same from the prior quarter.

Tupperware Brands Corporation (NYSE:TUP) yields 2.17% annually and has a market cap of $3.68 billion. Tupperware Brands Corporation operates as a direct seller of various products across a range of brands and categories through an independent sales force worldwide. It will pay a quarterly dividend of $0.36 on December 31, and its quarterly yield will be 0.54% based on yesterday's closing price of $66.42. The company has paid a quarterly dividend since the second half of 1996.

American Eagle Outfitters (NYSE:AEO) yields 2.09% annually and has a market cap of $4.21 billion. American Eagle Outfitters, together with its subsidiaries, operates as an apparel and accessories retailer in the United States and Canada. It will pay a quarterly dividend of $0.11 on December 28, and the clothing retailer accelerated its first quarter $0.11 dividend for 2013 to be paid on December 28 as well. The quarterly yield of the combined dividend payments will be 1.05% based on yesterday's closing price of $21.02. The company has paid a quarterly dividend since the second half of 2004, and each quarterly dividend payment has either increased or remained the same from the prior quarter.

International Game Technology (NYSE:IGT) yields 1.95% annually and has a market cap of $3.85 billion. International Game Technology engages in the design, development, manufacture, and marketing of casino games, gaming equipment, and systems technology for land-based and online social gaming, and wagering markets worldwide. It will pay a quarterly dividend of $0.07 on December 31, and its quarterly yield will be 0.49% based on yesterday's closing price of $14.37. The company first paid a quarterly dividend from 1993 through the beginning of 1999 and resumed paying a quarterly dividend in 2003. The dividend is down from a high of $0.15 in 2008.

These companies also have their ex-dividend date on December 17. All annual yields are estimated.

UIL Holdings (NYSE:UIL) yields 4.75% annually and will pay a quarterly dividend of $0.432 on January 2.

KAR Auction Services (NYSE:KAR) yields 4.23% annually and will pay its first quarterly dividend of $0.19 on December 28.

American Greetings Corporation (NYSE:AM) yields 3.47% and will pay a quarterly dividend of $0.15 on December 28.

Brown Shoe Company (NYSE:BWS) yields 1.51% annually and will pay a quarterly dividend of $0.07 on December 28.

Vail Resorts (NYSE:MTN) yields 1.42% annually and will pay a quarterly dividend of $0.1875 on December 27.

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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