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X Factor: 5 Stock Reaching Their Ex-Dividend Date on October 22

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Lowe's Companies, The Clorox Company, and Teekay Offshore Partners are on the list.

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MINYANVILLE ORIGINAL Ten 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 October 22 as their ex-dividend date. All annual yields are estimated.

Teekay Offshore Partners (NYSE:TOO) yields 7.35% annually and has a market cap of $2.02 billion. Teekay Offshore engages in marine transportation, and offshore processing and storage of crude oil for the offshore oil industry in the North Sea and Brazil. It will pay a quarterly dividend of $0.5125 on November 9, and its quarterly yield will be 1.84% based on yesterday's closing price of $27.90. The company has paid a quarterly dividend since 2007, and each dividend payment has either increased or remained the same from the prior quarter.

Teekay LNG Partners (NYSE:TGP) yields 7.04% annually and has market cap of $2.49 billion. Teekay LNG provides global marine transportation services for liquefied natural gas, liquefied petroleum gas, and crude oil. It will pay a quarterly dividend of $0.675 on November 9, and its quarterly yield will be 1.74% based on yesterday's closing price of $38.85. The company has paid a quarterly dividend since the second half of 2005, and each dividend payment has either increased or remained the same from the prior quarter.

Administradora de Fondos de Pensiones Provida SA (NYSE:PVD) yields 5.92% annually and has a market cap of $2.45 billion. The company offers private pension fund administration and related services in the Republic of Chile. It will pay a semi-annual dividend of $2.5216, but the payment date has not been announced yet. Its semi-annual yield will be 2.27% based on yesterday's closing price of $110.93. The company has paid a semi-annual dividend since 1995, except for 2009 when it only paid one dividend.

The Clorox Company (NYSE:CLX) yields 3.38% annually and has a market cap of $9.85 billion. The global manufacturer and marketer of consumer and professional products will pay a quarterly dividend of $0.64 on November 16, and its quarterly yield will be 0.85% based on yesterday's closing price of $75.63. The company has paid a quarterly dividend since 1983, and each dividend payment has either increased or remained the same from the prior quarter.

Lowe's Companies (NYSE:LOW) yields 1.97% annually and has a market cap of $37.15 billion. The home improvement retailer will pay a quarterly dividend of $0.16 on November 7, and its quarterly yield will be 0.49% based on yesterday's closing price of $32.57. The retailer has paid a quarterly dividend since the second half of 1980.

These companies also have their ex-dividend date on October 22. All annual yields are estimated.

Compass Diversified Holdings (NYSE:CODI) yields 9.28% annually and will pay a quarterly dividend of $0.36 on October 31.

New Hampshire Thrift Bancshares (NASDAQ:NHTB) yields 4% annually and will pay a quarterly dividend of $0.13 on October 31.

Bowl America (NYSEAMEX:BWL.A) yields 5% annually and will pay a quarterly dividend of $0.165 on November 14.

Arco Dorados Holdings (NYSE:ARCO) yields 1.52% annually and will pay a quarterly dividend of $0.0597 on October 26.

West Pharmaceutical Services (NYSE:WST) yields 1.42% annually and will pay a quarterly dividend of $0.19 on November 7.

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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