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X Factor: 5 Stocks Reaching Their Ex-Dividend Date on July 8

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AT&T inc., Verizon Communications Inc., and General Mills, Inc. 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 five stocks that schedule July 8 as their ex-dividend date. All annual yields are estimated.

AT&T Inc. (NYSE:T) yields 5.08% annually and has a market cap of $190.45 billion. The the global telecommunications company will pay a quarterly dividend of $0.45 on August 1, and the quarterly yield of the dividend will be 1.27% based on Friday's closing price of $35.40. The company has paid a quarterly dividend since 1984.

Verizon Communications Inc. (NYSE:VZ) yields 4.09% annually and has a market cap of $144.03 billion. The global provider of communications and information products will pay a quarterly dividend of $0.515 on August 1, and the quarterly yield will be 0.54% based on Friday's closing price of $51.58. The company has paid a quarterly dividend since 1984, and each payment has either increased or remained the same from the prior quarter.

General Mills, Inc. (NYSE:GIS) yields 3.13% annually and has a market cap of $31.19 billion. The global provider of branded food products will pay a quarterly dividend of $0.38 on August 1, and the quarterly yield will be 0.77% based on Friday's closing price of $48.53. The company has paid a quarterly dividend since 1983, and each payment has either increased or remained the same from the prior quarter.

The Gap Inc. (NYSE:GPS) yields 1.44% annually and has a market cap of $19.52 billion. The apparel retail company will pay a quarterly dividend of $0.36 on July 31, and the quarterly yield will be 0.75% based on Friday's closing price of $41.73. The company has paid a dividend since 1987.

Lennar Corporation (NYSE:LEN) yields 0.44% annually and has a market cap of $6.93 billion. The real estate company in the US will pay a quarterly dividend of $0.04 on July 24, and its quarterly yield will be 0.11% based on Friday's closing price of $36.04. The company has paid a quarterly dividend since 1988.

These companies also have their ex-dividend date on July 8. All annual yields are estimated.

WGL Holdings inc (NYSE:WGL) yields 3.89% annually and will pay a quarterly dividend of $0.42 on August 1.

UDR, Inc. (NYSE:UDR) yields 3.69% annually and will pay a quarterly dividend of $0.235 on July 31.

Brady Corp (NYSE:BRC) yields 2.47% annually and will pay a quarterly dividend of $0.19 on July 31.

Lincoln National Corporation (NYSE:LNC) yields 1.32% quarterly and will pay a quarterly dividend of $0.12 on August 1.

FEI Company (NASDAQ:FEIC) yields 0.66% annually and will pay a quarterly dividend of $0.12 on July 23.

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

Twitter: @ChrisWitrak
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