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

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New York Community Bancorp, FirstEnergy, and Intel 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 August 5 as their ex-dividend date. All annual yields are estimated.

New York Community Bancorp (NYSE:NYCB) yields 6.72% annually and has a market cap of $6.56 billion. The multi-bank holding company will pay a quarterly dividend of $0.25 on August 16, and the quarterly yield will be 0.82% based on Friday's closing price of $14.85. The company has paid a quarterly dividend since 1994.

FirstEnergy (NYSE:FE) yields 5.57% annually and has a market cap of $16.52 billion. The diversified energy company will pay a quarterly dividend of $0.55 on September 1, and its quarterly yield will be 1.41% based on Friday's closing price of $38.91. The company has paid a quarterly dividend since 1998, and each dividend payment has either increased or remained the same from the prior quarter.

Intel (NASDAQ:INTC) yields 3.88% annually and has a market cap of $115.54 billion. The global provider of integrated digital technology platforms will pay a quarterly dividend of $0.225 on September 1, and the quarterly yield will be 0.97% based on Friday's closing price of $23.26. The company has paid a quarterly dividend since the end of 1992.

Seagate Technology (NASDAQ:STX) yields 3.77% annually and has a market cap of $14.50 billion. The global manufacturing and seller of hard disk drives will pay a quarterly dividend of $0.38 on August 21, and the quarterly yield of the dividend will be 0.93% based on Friday's closing price of $41.05. The company has paid a quarterly dividend since 2003, and each dividend payment has either increased or remained the same from the prior quarter.

Xilinx (NASDAQ:XLNX) yields 2.18% annually and has a market cap of $12.13 billion. The global developer of programmable devices and associated technology will pay a quarterly dividend of $0.25 on August 28, and the quarterly yield will be 0.58% based on Friday's closing price of $46.18. The company has paid a quarterly dividend since 2004, and each dividend payment has either increased or remained the same from the prior quarter.

These companies also have their ex-dividend date on August 5. All annual yields are estimated.

Southern Copper Corporation (NYSE:SCCO) yields 11.90% annually and will pay a quarterly dividend of $0.12 on August 20.

Access Midstream Partners (NYSE:ACMP) yields 4.11% annually and will pay a quarterly dividend of $0.485 on August 14.

Magellan Midstream Partners (NYSE:MMP) yields 3.86% annually and will pay a quarterly dividend of $0.5325 on August 14.

The Cheesecake Factory (NASDAQ:CAKE) yields 1.36% annually and will pay a quarterly dividend of $0.14 on August 20.

Cash America International (NYSE:CSH) yields 0.33% annually and will pay a quarterly dividend of $0.035 on August 21.

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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