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

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Corrections Corporation of America, Raytheon Co., and Kimco Realty Corporation are on the list.

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Thirteen 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 April 1 as their ex-dividend date. All annual yields are estimated.

Corrections Corporation of America (NYSE:CXW) yields 5.53% annually and has a market cap of $3.84 billion. The operator of privatized correctional and detention facilities in the US will pay a quarterly dividend of $0.53 on April 15. Its quarterly yield will be 1.38% based on Friday's closing price of $38.31. The company first paid a quarterly dividend from the end of 1997 through the first half of 2000 and resumed paying a quarterly dividend last year.

Raytheon Co. (NYSE:RTN) yields 3.86% annually and has a market cap of $18.62 billion. The global producer of command, control, communications, and intelligence systems will pay a quarterly dividend of $0.55 on May 2, and the quarterly yield will be 0.96% based on Friday's closing price of $57.04. The company has paid a quarterly dividend since 1964.

Kimco Realty Corporation (NYSE:KIM) yields 3.77% annually and has a market cap of $9.10 billion. The real estate investment trust, or REIT, will pay a quarterly dividend of $0.21 on April 15, and its quarterly yield will be 0.94% based on Friday's closing price of $22.31. The company has paid a quarterly dividend since 1992.

Guess (NYSE:GES) yields 3.19% annually and has a market cap of $2.12 billion. The apparel company will pay a quarterly dividend of $0.20 on April 19, and its quarterly yield will be 0.79% based on Friday's closing price of $25.09. The company has paid a quarterly dividend since 2007, and each dividend payment has either increased or remained the same from the prior quarter.

Comcast Corporation (NASDAQ:CMCSA) yields 1.89% annually and has a market cap of $108.80 billion. The global media and technology company will pay a quarterly dividend of $0.195 on April 24, and its quarterly yield will be 0.41% based on Friday's closing price of $41.22. The company first paid a dividend from 1988 through the first quarter of 1999 and resumed paying a quarterly dividend in 2008.

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

Mack-Cali Realty Corporation (NYSE:CLI) yields 6.28% annually and will pay a quarterly dividend of $0.45 on April 12.

RAIT Financial Trust (NYSE:RAS) yields 5.97% annually and will pay a quarterly dividend of $0.12 on April 30.

The Toronto-Dominion Bank (NYSE:TD) yields 3.95% annually and will pay a quarterly dividend of $0.81 on April 30.

CVB Financial Corporation (NASDAQ:CVBF) yields 3.00% annually and will pay a quarterly dividend of $0.085 on April 17.

Invacare Corporation (NYSE:IVC) yields 0.36% annually and will pay a quarterly dividend of $0.0125 on April 12.

Purchase -- and have your broker settle -- before the ex-dividend date to secure the dividend.
Twitter: @ChrisWitrak
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No positions in stocks mentioned.
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