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X Factor: 5 Stocks Reaching Their Ex-Dividend Date on September 9

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Compuware Corporation, Kohl's Corporation, and Hewlett-Packard 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 September 9 as their ex-dividend date. All annual yields are estimated.

Compuware Corporation (NASDAQ:CPWR) yields 4.68% annually and has a market cap of $2.29 billion. The global provider of services and software for organizations worldwide will pay a quarterly dividend of $0.125 on September 25, and the quarterly yield will be 1.17% based on Friday's closing price of $10.67. The company began paying quarterly dividend this year.

Kohl's Corporation (NYSE:KSS) yields 2.75% annually and has a market cap of $11.35 billion. The operator of department stores in the US will pay a quarterly dividend of $0.35 on September 25, and the quarterly yield will be 0.68% based on Friday's closing price of $51.31. The company has paid a quarterly dividend since 2011.

Hewlett-Packard (NYSE:HPQ) yields 2.58% annually and has a market cap of $43.93 billion. The global provider of products, technologies, and software solutions will pay a quarterly dividend of $0.1452 on October 2, and the quarterly yield will be 0.65% based on Friday's closing price of $22.34. The company has paid a quarterly dividend since 1992, and each dividend payment has either increased or remained the same from the prior quarter.

Anadarko Petroleum Corporation (NYSE:APC) yields 0.78% annually and has a market cap of $46.37 billion. The global exploration, development, and production company for oil and natural gas will pay a quarterly dividend of $0.18 on September 25, and the quarterly yield will be 0.20% based on Friday's closing price of $91.42. The company has paid a quarterly dividend since the end of 1987, and each dividend payment has either increased or remained the same from the prior quarter.

Twenty-First Century Fox (NASDAQ:FOXA) yields 0.78% annually and has a market cap of $74.46 billion. The global media and entertainment company will pay a semi-annual dividend of $0.125 on October 16, and the semi-annual yield will be 0.40% based on Friday's closing price of $31.33. The company has paid a semi-annual dividend since 1997.

These companies also have their ex-dividend date on September 9. All annual yields are estimated.

Ameren Corporation (NYSE:AEE) yields 4.74% annually and will pay a quarterly dividend of $0.40 on September 30.

Rockwood Holdings (NYSE:ROC) yields 2.79% annually and will pay a quarterly dividend of $0.45 on September 26.

Guess? (NYSE:GES) yields 2.64% annually and will pay a quarterly dividend of $0.20 on September 27.

Texas Roadhouse (NASDAQ:TXRH) yields 1.92% annually and will pay a quarterly dividend of $0.12 on September 27.

Amphenol Corporation (NYSE:APH) yields 1.06% annually and will pay a quarterly dividend of $0.20 on October 2.

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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