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X Factor: 5 Stocks Reaching Their Ex-Dividend Date on April 17

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Telefonica Brasil, S.A., Vale, S.A., and Foot Locker are on the list.

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Many stocks will reach their ex-dividend date next Thursday 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 April 17 as their ex-dividend date. All annual yields are estimated.

Telefonica Brasil, S.A. (NYSE:VIV) yields 5% annually and has a market cap of $29.70 billion. The provider of fixed-line telecommunications services to residential and commercial customers in Brazil will pay a semi-annual dividend of $0.6601. The pay date has not been announced yet. Its semi-annual yield will be 2.54% based on yesterday's closing price of $25.99. The company has paid a semi-annual dividend since 1999.

Vale, S.A. (NYSE:VALE) yields 4.60% annually and has a market cap of $94.05 billion. The global producer of metals and minerals will pay a semi-annual dividend of $0.4216 on May 7, and its semi-annual yield will be 2.31% based on yesterday's closing price of $18.25. The company has paid a semi-annual dividend since 2002.

Foot Locker (NYSE:FL) yields 2.43% annually and has a market cap of $4.95 billion. The retailer of athletic footwear will pay a quarterly dividend of $0.20 on May 3, and its quarterly yield will be 0.61% based on yesterday's closing price of $32.96. The company first paid a quarterly dividend from 1970 through the beginning of 1995 and resumed paying a quarterly dividend in 2003.

PerkinElmer (NYSE:PKI) yields 0.82% annually and has a market cap of $3.90 billion. The global provider of products and services to laboratories will pay a quarterly dividend of $0.07 on May 10. Its quarterly yield will be 0.20% based on yesterday's closing price of $34.22. The company has paid a quarterly dividend since 1983.

ARM Holdings (NASDAQ:ARMH) yields 0.59% annually and has a market cap of $18.79 billion. The designer of microprocessors will pay a semi-annual dividend of $0.1181 on May 28, and the semi-annual yield will be 0.29% based on yesterday's closing price of $40.36. The company has paid a semi-annual dividend since 2004.

These companies also have their ex-dividend date on April 17. All annual yields are estimated.

Comtech Telecommunications Corporation (NASDAQ:CMTL) yields 4.49% annually and will pay a quarterly dividend of $0.275 on May 21.

Friedman Industries (NYSEAMEX:FRD) yields 3.21% annually and will pay a quarterly dividend of $0.08 on May 17.

US Ecology (NASDAQ:ECOL) yields 2.83% annually and will pay a quarterly dividend of $0.18 on April 26.

Luxfer Holdings (NYSE:LXFR) yields 2.46% annually and will pay a quarterly dividend of $0.095 on May 8.

Bon-Ton Stores (NASDAQ:BONT) yields 1.49% annually and will pay a quarterly dividend of $0.05 on May 6.

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

Twitter: @ChrisWitrak
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