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X Factor: Four Stocks Reaching Their Ex-Dividend Date on October 19

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LTC Properties, Codorus Valley Bancorp, and Colgate-Palmolive are on the list.

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MINYANVILLE ORIGINAL Four 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 four stocks that schedule October 19 as their ex-dividend date. All annual yields are estimated.

LTC Properties (NYSE:LTC) yields 5.33% annually and has a market cap of $1.01 billion. The health care real estate investment trust, or REIT, will pay a monthly dividend of $0.155 on October 31, and its monthly yield will be 0.47% based on yesterday's closing price of $33.02. The REIT began paying a quarterly dividend in the second half of 1992 and switched to a monthly dividend in 2005. Each dividend payment since 2005 has either increased or remained the same.

Codorus Valley Bancorp (NASDAQ:CVLY) yields 2.77% annually and has market cap of $70.15 million. The holding company for PeoplesBank will pay a quarterly dividend of $0.11 on November 13, and its quarterly yield will be 0.69% based on yesterday's closing price of $15.90. The company has paid a quarterly dividend since the second half of 1997.

Colgate-Palmolive (NYSE:CL) yields 2.24% annually and has a market cap of $52.43 billion. The global producer of consumer products will pay a quarterly dividend of $0.62 on November 15, and its quarterly yield will be 0.56% based on yesterday's closing price of $110.57. The company has paid a quarterly dividend since 1977. Each dividend payment has either increased or remained the same from the previous quarter.

Carpenter Technology (NYSE:CRS) yields 1.34% annually and has a market cap of $2.82 billion. The manufacturer and distributor of specialty metals will pay a quarterly dividend of $0.18 on December 6. Its quarterly yield will be 0.34% based on yesterday's closing price of $53.64. The company has paid a quarterly dividend since 1988. Since 2003, each dividend payment has either increased or remained the same from the prior quarter.

Twitter: @ChrisWitrak
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