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X Factor: 5 High-Yield Stocks Reaching Their Ex-Dividend Date on September 19

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Total SA, American Capital Agency Corp., and American Capital Mortgage Corp. 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. Dividends are paid on the dividend record date, usually two business days after the ex-dividend date.

Purchasers must own a stock several days prior to the dividend record date to get the dividend. Those purchasing right before the 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 effect 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 September 19 as their ex-dividend date. All annual yields are estimated.

American Capital Agency Corp. (AGNC) yields 13.63% annually and has a market cap of $12.53 billion. The mortgage real estate investment trust, or REIT, will pay a quarterly dividend of $1.25 on October 26. Its quarterly yield will be 3.41% based on last Friday's closing price of $36.68. The REIT has paid a quarterly dividend since 2008.

American Capital Mortgage Corp. (MTGE) yields 13.55% annually. The mortgage real estate investment trust, or REIT, has a market cap of $963.12 million and will pay a quarterly dividend of $0.90 on October 26. Its quarterly yield will be 3.39% based on yesterday's closing price of $26.56. The REIT has paid a quarterly dividend since last year.

Vector Group (VGR) yields 9.07% annually and has a market cap of $1.44 billion. The cigarette producer will pay a monthly dividend of $0.40 on September 28. Its quarterly yield will be 2.27% based on last yesterday's closing price of $17.65. The company has paid a quarterly dividend since 1988, except for 1993 and 1994.

Aviva (AV) yields 7.32% annually and has a market cap of $16.81 billion. The insurance company will pay a semi-annual dividend of $0.3128 on November 11. This dividend results in a semi-annual yield of 2.68% based on yesterday's closing price of $11.68. The company has paid a semi-annual dividend since 2010.

Total SA (TOT) yields 5.56% annually and has a market cap of $121.68 billion. The international oil and gas company will pay a quarterly dividend of $0.6915 on October 18. Its quarterly yield will be 1.28% based on last Friday's closing price of $53.96. The company has paid a dividend since 1992. The company switched to a semi-annual dividend in 2004 and then to a quarterly dividend in 2011.
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No positions in stocks mentioned.
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