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X Factor: 5 Stocks Reaching Their Ex-Dividend Date on April 18

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LTC Properties, Questcor Pharmaceuticals, and Hormel Foods Corporation are on the list.

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Five 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 18 as their ex-dividend date. All annual yields are estimated.

LTC Properties (NYSE:LTC) yields 3.97% annually and has a market cap of $1.35 billion. The health care real estate investment trust, or REIT, will pay a monthly dividend of $0.155 on April 30. Its monthly yield will be 0.35% based on yesterday's closing price of $44.31. The company first paid a quarterly dividend from 1992 to 2004, except for 2001 when no dividend was paid, and switched to a monthly dividend in 2005.

Questcor Pharmaceuticals (NASDAQ:QCOR) yields 3.47% annually and has a market cap of $1.66 billion. The biopharmaceutical company will pay a quarterly dividend of $0.25 on April 30, and its quarterly yield will be 0.87% based on yesterday's closing price of $28.79. The company began paying a dividend last year.

Hormel Foods Corporation (NYSE:HRL) yields 1.67% annually and has a market cap of $10.76 billion. The producer of meat and food products will pay a quarterly dividend of $0.17 on May 15, and its quarterly yield will be 0.41% based on yesterday's closing price of $40.64. The company has paid a quarterly dividend since 1990.

Apache Corporation (NYSE:APA) yields 1.06% annually and has a market cap of $29.63 billion. The independent producer of natural gas, crude oil, and natural gas liquids will pay a quarterly dividend of $0.20 on May 22, and its quarterly yield will be 0.26% based on yesterday's closing price of $75.63. The company has paid a quarterly dividend since 1982, except for 2000 and 2001 when it paid semi-annual dividends.

Companhia Brasileira de Distribuicao (NYSE:CBD) yields 0.54% annually and has a market cap of $14.53 billion. The Brazilian retailer of food and non-food products will pay a quarterly dividend of $0.3036, but the pay date has not been announced yet. Its quarterly yield will be 0.55% based on yesterday's closing price of $55.21. The company has paid a quarterly dividend since the second half of 1999.
Twitter: @ChrisWitrak
No positions in stocks mentioned.
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