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X Factor: 5 Stocks Reaching Their Ex-Dividend Date on November 1

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Southern Company, Ameriprise Financial, and Noble Energy 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 stocks that schedule November 1 as their ex-dividend date. All annual yields are estimated.

Southern Company (NYSE:SO) yields 4.23% annually and has a market cap of $40.91 billion. The electric utility company will pay a quarterly dividend of $0.49 on December 6, and its monthly yield will be 1.04% based on yesterday's closing price of $46.82. The company has paid a quarterly dividend since 1982, and each dividend payment has either increased or remained the same from the prior quarter.

Ameriprise Financial (NYSE:AMP) yields 3.04% annually and has market cap of $12.22 billion. The global provider of financial products will pay a quarterly dividend of $0.45 on November 16, and its quarterly yield will be 0.76% based on Friday's closing price of $59.30. The company has paid a quarterly dividend since the end of 2005, and each dividend payment has either increased or remained the same from the prior quarter.

ONEOK (NYSE:OKE) yields 2.80% annually and has a market cap of $9.68 billion. ONEOK is a diversified energy company that engages in the gathering, processing, storage, and transportation of natural gas and natural gas liquids in the United States. It will pay a quarterly dividend of $0.33 on November 14, and its quarterly yield will be 0.70% based on Friday's closing price of $47.14. This company has paid a dividend since 1985, and it has paid a consistent quarterly dividend since 1990.

Noble Energy (NYSE:NBL) yields 1.06% annually and has a market cap of $16.88 billion. Noble Energy, an independent energy company, engages in the acquisition, exploration, development, production, and marketing of crude oil, natural gas, and natural gas liquids in the DJ Basin, Marcellus Shale, deepwater Gulf of Mexico, offshore Eastern Mediterranean, and offshore West Africa. It will pay a quarterly dividend of $0.25 on November 19, and its quarterly yield will be 0.26% based on Friday's closing price of $94.45. The company has paid a quarterly dividend since 1982, and each dividend payment has either increased or remained the same from the prior quarter.

Citigroup (NYSE:C) yields 0.11% annually and has a market cap of $108.56 billion. Citigroup is a diversified financial services holding company and provides a range of financial products and services to consumers, corporations, governments, and institutions worldwide. It will pay a monthly dividend of $0.01 on November 21, and its monthly yield will be 0.03% based on Friday's closing price of $36.60. The company has paid a quarterly dividend since 1987, except for 2010 when it paid no dividend.

These companies also have their ex-dividend date on November 1. All annual yields are estimated.

Natural Resource Partners (NYSE:NRP) yields 10.09% annually and will pay a quarterly dividend of $0.55 on November 14.

PetroLogistics (NYSE:PDH) yields 6.47% annually and will pay a quarterly dividend of $0.21 on November 14.

Rose Rock Midstream (NYSE:RRMS) yields 4.86% annually and will pay a quarterly dividend of $0.3925 on November 14.

Northeast Bancorp (NASDAQ:NBN) yields 3.81% annually and will pay a quarterly dividend of $0.09 on November 19.

EQT Midstream Partners (NYSE:EQM) yields 2.42% annually and will pay a quarterly dividend of $0.21 on November 19.

Twitter: @ChrisWitrak
No positions in stocks mentioned.
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