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X Factor: 5 Stocks Reaching Their Ex-Dividend Date on February 11

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Duke Realty Corporation, Consolidated Edison, and Southern Copper Corporation are on the list.

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Many stocks will reach their ex-dividend date next Monday, 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 three stocks that schedule February 11 as their ex-dividend date. All annual yields are estimated.

Duke Realty Corporation (NYSE:DRE) yields 4.37% annually and has a market cap of $4.28 billion. The real estate investment trust, or REIT, based in the US will pay a quarterly dividend of $0.17 on February 28. Its quarterly yield will be 1.09% based on yesterday's closing price of $15.55. The company has paid a quarterly dividend since 1989.

Consolidated Edison (NYSE:ED) yields 4.31% annually and has a market cap of $16.71 billion. The energy services provider will pay a quarterly dividend of $0.615 on March 15, and its quarterly yield will be 1.08% based on yesterday's closing price of $57.05. The company has paid a quarterly dividend since 1977.

Southern Copper Corporation (NYSE:SCCO) yields 2.41% annually and has a market cap of $33.69 billion. The copper miner will pay a quarterly dividend of $0.24 on February 26, and the quarterly yield will be 0.60% based on yesterday's closing price of $39.84. The company has paid a quarterly dividend since 1996.

Amgen (NASDAQ:AMGN) yields 2.18% annually and has a market cap of $65.24 billion. The biotechnology medicines company will pay a quarterly dividend of $0.47 on March 7, and its quarterly yield will be 0.54% based on yesterday's closing price of $86.30. The company began paying a quarterly dividend last year.

Valero Energy Corporation (NYSE:VLO) yields 1.78% annually and has a market cap of $24.83 billion. The petroleum refiner will pay a quarterly dividend of $0.20 on March 13, and its quarterly yield will be 0.45% based on yesterday's closing price of $44.85. The company first paid a quarterly dividend from 1982 through 1984 and resumed paying a quarterly dividend in 1989.

These companies also have their ex-dividend date on February 11. All annual yields are estimated.

Summit Hotel Properties (NYSE:INN) yields 4.78% annually and will pay a quarterly dividend of $0.1125 on February 28.

Brookline Bancorp (NASDAQ:BRKL) yields 3.81% annually and will pay a quarterly dividend of $0.085 on February 27.

Regency Centers Corporation (NYSE:REG) yields 3.67% annually and will pay a quarterly dividend of $0.4625 on February 27.

Sandy Spring Bancorp (NASDAQ:SASR) yields 2.77% annually and will pay a quarterly dividend of $0.14 on February 20.

Home Bancshares (NASDAQ:HOMB) yields 1.47% annually and will pay a quarterly dividend of $0.13 on March 6.

Purchase -- and have your broker settle -- before the ex-dividend date to secure the dividend.

Twitter: @ChrisWitrak
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