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X Factor: 5 Stocks Reaching Their Ex-Dividend Date on January 29

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Prospect Capital Corporation, Kinder Morgan, and ConAgra Foods are on the list.

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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 January 29 as their ex-dividend date. All annual yields are estimated.

Prospect Capital Corporation (NASDAQ:PSEC) yields 11.62% annually and has a market cap of $1.98 billion. The business development company will pay a monthly dividend of $0.11 on February 20. Its monthly yield will be 0.34% based on yesterday's closing price of $11.36. The company first paid a quarterly dividend from the end of 2004 through 2009 and then switched to a monthly dividend in 2010.

Kinder Morgan (NYSE:KMI) yields 3.92% annually and has a market cap of $38.79 billion. Kinder Morgan operates in energy transportation and storage. It will pay a quarterly dividend of $0.37 on February 15. The quarterly yield will be 0.98% based on yesterday's closing price of $37.79. The company has paid a quarterly dividend since 2011.

ConAgra Foods (NYSE:CAG) yields 3.13% annually and has a market cap of $12.94 billion. The food company, which operatesin North America, will pay a quarterly dividend of $0.25 on March 5, and its quarterly yield will be 0.78% based on yesterday's closing price of $31.94. The company has paid a quarterly dividend since 1977.

Texas Instrument (NASDAQ:TXN) yields 2.51% annually and has a market cap of $37.50 billion. The global producer and provider of semiconductors will pay a quarterly dividend of $0.21 on February 11. Its quarterly yield will be 0.63% based on yesterday's closing price of $33.46. The company has paid a quarterly dividend since 1972, and each dividend has either increased or remained the same from the prior quarter.

Eldorado Gold Corporation (NYSE:EGO) yields 1.07% annually and has a market cap of $9.36 billion. Eldorado Gold operates as a gold mining company with properties in Brazil, China, Greece, and Turkey. It will pay a semi-annual dividend of $0.07 on February 14, and its semi-annual yield will be 0.53% based on yesterday's closing price of $13.13. The company began paying a dividend in 2011.

These companies also have their ex-dividend date on January 29. All annual yields are estimated.

Atlantic Power Corporation (NYSE:AT) yields 8.42% annually and will pay a monthly dividend of $0.0958 on February 28.

Hospitality Properties Trust (NYSE:HPT) yields 7.34% annually and will pay a quarterly dividend of $0.47 on February 22.

Omega Healthcare Investors (NYSE:OHI) yields 6.96% annually and will pay a quarterly dividend of $0.45 on February 15.

Copano Energy (NASDAQ:CPNO) yields 6.78% annually and will pay a quarterly dividend of $0.575 on February 14.

Education Realty Trust (NYSE:EDR) yields 3.79% annually and will pay a quarterly dividend of $0.10 on February 15.

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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