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X Factor: 5 Stocks Reaching Their Ex-Dividend Date on July 1

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IAMGOLD Corp, Corrections Corp of America, and Kimco Realty Corp 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 1 as their ex-dividend date. All annual yields are estimated.

IAMGOLD Corp (NYSE:IAG) yields 6.01% annually and has a market cap of $1.57 billion. The mining company will pay a semi-annual dividend of $0.125 on July 12, and its semi-annual yield will be 2.87% based on Friday's closing price of $4.36. The company paid an annual dividend from 2003 through 2010 and began paying a semi-annual dividend in 2011.

Corrections Corp of America (NYSE:CXW) yields 5.86% annually and has a market cap of $3.30 billion. The operator of privatized correctional and detention facilities in the US will pay a quarterly dividend of $0.48 on July 15, and the quarterly yield will be 0.60% based on Friday's closing price of $33.04. The company first paid a quarterly dividend from the end of 1997 through the beginning of 2000 and resumed paying a quarterly dividend last year.

Kimco Realty Corp (NYSE:KIM) yields 4.13% annually and has a market cap of $8.32 billion. The independent real estate investment trust will pay a quarterly dividend of $0.21 on July 15, and the quarterly yield will be 1% based on Friday's closing price of $20.84. The company has paid a quarterly dividend since 1992.

Cisco Systems, Inc. (NASDAQ:CSCO) yields 2.80% annually and has a market cap of $129.52 billion. The global producer of Internet protocol based networking products will pay a quarterly dividend of $0.17 on July 24, and the quarterly yield of the dividend will be 0.69% based on Friday's closing price of $24.48. The company has paid a quarterly dividend since 2011.

Comcast Corporation (NASDAQ:CMCSA) yields 1.97% annually and has a market cap of $104.18 billion. The global media and technology company will pay a quarterly dividend of $0.195 on July 24, and the quarterly yield will be 0.49% based on Friday's closing price of $39.77. The company first paid a quarterly dividend in 1988 through the beginning of 1999 and resumed paying a quarterly dividend in 2008.

These companies also have their ex-dividend date on July 1. All annual yields are estimated.

Mack-Cali Realty Corp (NYSE:CLI) yields 5.23% annually and will pay a quarterly dividend of $0.30 on July 12.

Raytheon Company (NYSE:RTN) yields 3.36% annually and will pay a quarterly dividend of $0.55 on August 8.

CVB Financial Corp. (NASDAQ:CVBF) yields 2.98% annually and will pay a quarterly dividend of $0.10 on July 18.

Simpson Manufacturing Co, Inc. (NYSE:SSD) yields 1.77% annually and will pay a quarterly dividend of $0.125 on July 25.

P.H. Glatfelter Company (NYSE:GLT) yields 1.58% quarterly and will pay a quarterly dividend of $0.10 on August 1.

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

Twitter: @ChrisWitrak
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