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X Factor: 5 Stocks Reaching Their Ex-Dividend Date on November 20

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3M, Carnival Corporation, and NVIDIA Corporation are on the list.

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MINYANVILLE ORIGINAL Many stocks will reach their ex-dividend date next Tuesday, 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 November 20 as their ex-dividend date. All annual yields are estimated.

3M (NYSE:MMM) yields 2.68% annually and has a market cap of $61.20 billion. 3M operates as a diversified technology company worldwide. The company's Industrial and Transportation segment offers tapes, coated and non-woven abrasives, adhesives, specialty materials, filtration products, energy control products, closure systems for personal hygiene products, acoustic systems products, and components and products used in the automotive, marine, aircraft, and specialty vehicles. It will pay a quarterly dividend of $0.59 on December 12, and its quarterly yield will be 0.67% based on yesterday's closing price of $88.02. The company has paid a quarterly dividend since 1977, and each dividend payment has either increased or remained the same from the prior quarter.

Carnival Corporation (NYSE:CCL) yields 2.67% annually and has market cap of $29.44 billion. The global cruise and vacation company will pay a quarterly dividend of $0.25 on December 14, and its quarterly yield will be 0.67% based on yesterday's closing price of $37.39. The company has paid a quarterly dividend since 1994, and the dividend is down from a high of $0.40 in 2008.

NVIDIA Corporation (NASDAQ:NVDA) yields 2.59% annually and has a market cap $7.11 billion. NVIDIA Corporation provides graphics chips for use in smartphones, personal computers (PCs), tablets, and professional workstations markets worldwide. It will pay a quarterly dividend of $0.075 on December 14, and its quarterly yield will be 0.65% based on yesterday's closing price of $11.59. This will be company's second dividend payment.
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