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X Factor: 5 Stocks Reaching Their Ex-Dividend Date on January 16

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Commercial Metals Company, Enersis S.A., and Foot Locker are on the list.

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Many stocks will reach their ex-dividend date next Wednesday, 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 four stocks that schedule January 16 as their ex-dividend date. All annual yields are estimated.

Commercial Metals Company (NYSE:CMC) yields 3.15% annually and has a market cap of $1.77 billion. Commercial Metals Company manufactures, recycles, and markets steel and metal products, and related materials and services in the United States and internationally. It will pay a quarterly dividend of $0.12 on February 1, and its quarterly yield will be 0.79% based on yesterday's closing price of $15.28. The company has paid a quarterly dividend since 1988, and each dividend payment has either increased or remained the same from the prior quarter.

Enersis S.A. (NYSE:ENI) yields 2.91% annually and has a market cap of $12.26 billion. Enersis S.A., an electric utility company, engages in the electricity generation, transmission, and distribution businesses in Chile, Argentina, Brazil, Colombia, and Peru. It will pay a semi-annual dividend of $0.1278, but the payment date has not been announced yet. Its semi-annual yield will be 0.68% based on yesterday's closing price of $18.81. The utility company first paid a quarterly dividend from the end of 1993 through 1998. Then in 2007, it began paying a semi-annual dividend.

Foot Locker (NYSE:FL) yields 2.18% annually and has a market cap of $4.98 billion. Foot Locker, together with its subsidiaries, operates as a retailer of athletic footwear and apparel. It will pay a quarterly dividend of $0.18 on February 1, and its quarterly yield will be 0.54% based on yesterday's closing price of $33.16. Foot Locker first paid a quarterly dividend from 1970 to the beginning of 1995 and resumed paying dividends in 2003.

Whole Foods Market (NASDAQ:WFM) yields 0.90% annually and has a market cap of $16.54 billion. Whole Foods Market owns and operates a chain of natural and organic foods supermarkets. It will pay a quarterly dividend of $0.20 on January 29. The quarterly yield will be 0.23% based on yesterday's closing price of $87.88. The company has paid a quarterly dividend since 2004, except for 2009 and 2010.

PerkinElmer (NYSE:PKI) yields 0.83% annually and has a market cap of $3.90 billion. PerkinElmer provides technology, services, and solutions to the diagnostics, research, environmental, industrial, and laboratory services markets worldwide. It will pay a quarterly dividend of $0.07 on February 8. The quarterly yield will be 0.21% based on yesterday's closing price of $33.02. The company has paid a quarterly dividend since 1983.

These companies also have their ex-dividend date on January 16. All annual yields are estimated.

Main Street Capital Corporation (NYSE:MAIN) yields 5.84% annually and will pay a quarterly dividend of $0.15 on March 15.

Cracker Barrel (NASDAQ:CBRL) yields 3.07% annually and will pay a quarterly dividend of $0.50 on February 5.

Bank of the Ozarks (NASDAQ:OZRK) yields 1.75% annually and will pay a quarterly dividend of $0.15 on January 25.

West Pharmaceutical Services (NYSE:WST) yields 1.37% annually and will pay a quarterly dividend of $0.19 on February 6.

Oxford Industries (NYSE:OXM) yields 1.26% annually and will pay a quarterly dividend of $0.15 on February 1.

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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