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X Factor: 5 Stocks Reaching Their Ex-Dividend Date on May 3

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FirstEnergy, Intel Corporation, and Banco Bradesco S.A. are on the list.

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Five stocks will reach their ex-dividend date next Friday, 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 May 3 as their ex-dividend date. All annual yields are estimated.

FirstEnergy (NYSE:FE) yields 4.75% annually and has a market cap of $19.36 billion. The US energy holding company will pay a quarterly dividend of $0.55 on June 1, and the quarterly yield will be 1.19% based on yesterday's closing price of $46.30. The company has paid a quarterly dividend since 1998.

Intel Corporation (NASDAQ:INTC) yields 3.85% annually and has a market cap of $115.68 billion. The global producer of digital technology platforms will pay a quarterly dividend of $0.225 on June 1, and the quarterly yield will be 0.96% based on yesterday's closing price of $23.38. The company has paid a quarterly dividend since the end of 1992, and each dividend payment has either increased or remained the same from the prior quarter.

IDACORP (NYSE:IDA) yields 3.14% annually and has a market cap of $2.43 billion. The generator and distributor of electricity in the US will pay a quarterly dividend of $0.38 on May 30, and its quarterly yield will be 0.78% based on yesterday's closing price of $48.42. The company has paid a quarterly dividend since the end of 1986.

Banco Bradesco S.A. (NYSE:BBD) yields 2.01% annually and has a market cap of $68.78 billion. The global provider of banking and finance products will pay an extra dividend of $0.0088 on June 10, and the yield of this special dividend will be 0.05% based on yesterday's closing price of $16.38. The company has paid a monthly dividend since 2002.

Pall Corporation (NYSE:PLL) yields 1.50% annually and has a market cap of $7.43 billion. The global producer of filtration and purification products will pay a quarterly dividend of $0.25 on May 21, and its quarterly yield will be 0.37% based on yesterday's closing price of $66.74. The company has paid a quarterly dividend since the end of 1991.

Twitter: @ChrisWitrak
No positions in stocks mentioned.
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