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X Factor: 5 Stocks Reaching Their Ex-Dividend Date on June 12

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ARMOUR Residential REIT, Vodafone Group, and Altria 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 five stocks that schedule June 12 as their ex-dividend date. All annual yields are estimated.

ARMOUR Residential REIT (NYSE:ARR) yields 16.77% annually and has a market cap of $1.87 billion. The real estate investment trust will pay a monthly dividend of $0.07 on June 27, and the quarterly yield will be 1.40% based on yesterday's closing price of $5.01. The company has paid a monthly dividend since the second half of 2010.

Vodafone Group (NASDAQ:VOD) yields 6.99% annually and has a market cap of $143.15 billion. The global provider of global telecommunications services will pay a semi-annual dividend of $1.0288 on August 7, and the semi-annual yield will be 3.51% based on yesterday's closing price of $29.33. The company has paid a semi-annual dividend since 1989.

Altria (NYSE:MO) yields 4.86% annually and has a market cap of $72.53 billion. The global producer of tobacco and wine products will pay a quarterly dividend of $0.44 on July 10, and the quarterly yield will be 1.22% based on yesterday's closing price of $36.21. The company has paid a quarterly dividend since 1989.

Coca-Cola (NYSE:KO) yields 2.70% annually and has a market cap of $184.47 billion. The global beverage company will pay a quarterly dividend of $0.28 on July 1, and its quarterly yield will be 0.67% based on yesterday's closing price of $41.42. The company has paid a quarterly dividend since 1970.

Regions Financial Corporation (NYSE:RF) yields 1.34% annually and has a market cap of $12.69 billion. The provider of banking services will pay a quarterly dividend of $0.03 on July 1, and the quarterly yield of the dividend will be 0.33% based on yesterday's closing price of $8.98. The company has paid a quarterly dividend since the second half of 1990.

These companies also have their ex-dividend date on June 12. All annual yields are estimated.

Leggett & Platt (NYSE:LEG) yields 3.70% annually and will pay a quarterly dividend of $0.29 on July 15.

NYSE Euronext (NYSE:NYX) yields 3.06% annually and will pay a quarterly dividend of $0.30 on June 28.

Computer Sciences (NYSE:CSC) yields 1.78% quarterly and will pay a quarterly dividend of $0.20 on July 12.

Albemarle Corporation(NYSE:ALB) yields 1.46% quarterly and will pay a quarterly dividend of $0.24 on July 1.

Domino's Pizza (NYSE:DPZ) yields 1.33% annually and will pay a quarterly dividend of $0.20 on June 28.

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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