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X Factor: 5 Stocks Reaching Their Ex-Dividend Date on December 26

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MFA Financial, DCT Industrial Trust, and CBL & Associates Properties are on the list.

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MINYANVILLE ORIGINAL Many stocks will reach their ex-dividend date next Wednesday, 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 26 as their ex-dividend date. All annual yields are estimated.

MFA Financial (NYSE:MFA) yields 9.67% annually and has a market cap of $2.96 billion. MFA Financial, a real estate investment trust, or REIT, invests in residential agency and non-agency mortgage-backed securities. It will pay a quarterly dividend of $0.20 on January 31, and its quarterly yield will be 2.42% based on yesterday's closing price of $8.27. The REIT has paid a quarterly dividend since 1998.

DCT Industrial Trust (NYSE:DCT) yields 4.38% annually and has a market cap of $1.72 billion. The real estate investment trust, or REIT, will pay a quarterly dividend of $0.07 on January 10 and its quarterly yield will be 1.09% based on yesterday's closing price of $6.40. The company has paid a quarterly dividend since the end of 2006.

CBL & Associates Properties (NYSE:CBL) yields 4.15% annually and has a market cap $3.42 billion. The REIT will pay a quarterly dividend of $0.22 on January 16, and its quarterly yield will be 1.04% based on yesterday's closing price of $21.22. The REIT has paid a quarterly dividend since the end of 1993, and the dividend is down from a high of $0.55 in 2008.

Banco Bradesco S.A. (NYSE:BBD) yields 0.59% annually and has a market cap of $66.08 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 $0.2110 on March 7, and the yield of this special dividend will be 1.19% based on yesterday's closing price of $17.67.

Itaú Unibanco Holding S.A. (NYSE:ITUB) yields 0.54% annually and has a market cap of $73.78 billion. Itaú Unibanco Holding S.A. provides a range of credit and other financial services to individuals and companies in Brazil and internationally. It will pay an extra dividend of $0.1248, but the pay date has not been announced. The yield of this special dividend will be 0.76% based on yesterday's closing price of $16.33.

These companies also have their ex-dividend date on December 26. All annual yields are estimated.

Canadian Imperial Bank of Commerce (NYSE:CM) yields 4.53% annually and will pay a quarterly dividend of $0.94 on January 28.

Glimcher Realty Trust (NYSE:GRT) yields 3.71% annually and will pay a quarterly dividend of $0.10 on January 15.

DuPont Fabros Technology (NYSE:DFT) yields 3.34% annually and will pay a quarterly dividend of $0.20 on January 15.

BT Group (NYSE:BT) yields 2.40% annually and will pay a semi-annual dividend of $0.4645 on February 11.

Canadian Pacific Railway (NYSE:CP) yields 1.20% annually and will pay a quarterly dividend of $0.35 on January 28.

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

Twitter: @ChrisWitrak
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