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X Factor: 5 High-Yield Stocks Reaching Their Ex-Dividend Date on November 14

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Pitney Bowes, Terra Nitrogen Company, and Oaktree Capital Group are on the list.

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MINYANVILLE ORIGINAL Many 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 five high-yield stocks that schedule November 14 as their ex-dividend date. All annual yields are estimated.

Pitney Bowes (NYSE:PBI) yields 12.58% annually and has a market cap of $2.39 billion. Pitney Bowes provides software, hardware, and services to enable physical and digital communications. It will pay a quarterly dividend of $0.375 on December 12, and its monthly yield will be 3.15% based on yesterday's closing price of $11.92. The company began paying a quarter dividend in 1982, and each dividend payment has either increased or remained the same from the prior quarter.

Terra Nitrogen Company (NYSE:TNH) yields 7.14% annually and has a market cap $4.31 billion. The producer and seller of nitrogen fertilizer products will pay a quarterly dividend of $4.12 on November 29, and its quarterly yield will be 1.79% based on yesterday's closing price of $230.67. The company has paid a quarterly dividend since 1992.

Oaktree Capital Group (NYSE:OAK) yields 5.53% annually and has a market cap of $1.27 billion. Oaktree Capital Group operates as a global investment management firm that focuses on alternative markets. It will pay a quarterly dividend of $0.55 on November 20, and its quarterly yield will be 1.31% based on yesterday's closing price of $41.93. The company began paying a quarterly dividend this year.
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