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X Factor: 5 Stocks Reaching Their Ex-Dividend Date on May 30

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Lockheed Martin Corporation, The Wendy's Corporation, and Expeditors International are on the list.

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Many 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 May 30 as their ex-dividend date. All annual yields are estimated.

Lockheed Martin Corporation (NYSE:LMT) yields 4.31% annually and has a market cap of $33.92 billion. The security and aerospace company will pay a quarterly dividend of $1.15 on June 28, and the quarterly yield of the dividend will be 1.09% based on yesterday's closing price of $105.72. The company has paid a quarterly dividend since 1995.

The Wendy's Corporation (NASDAQ:WEN) yields 2.69% annually and has a market cap of $2.34 billion. The operator of Wendy's quick service restaurants will pay a quarterly dividend of $0.04 on June 17, and its quarterly yield will be 0.66% based on yesterday's closing price of $6.02. The company has paid a quarterly dividend since 2003.

Expeditors International (NASDAQ:EXPD) yields 1.51% annually and has a market cap of $8.18 billion. The global provider of logistics services will pay a semi-annual dividend of $0.30 on June 17, and the quarterly yield will be 0.78% based on yesterday's closing price of $38.30. The company has paid a semi-annual dividend since 1993.

Nike (NYSE:NKE) yields 1.32% annually and has a market cap of $56.83 billion. The global seller of footwear and other apparel will pay a quarterly dividend of $0.21 on July 1, and the quarterly yield will be 0.33% based on yesterday's closing price of $64.45. The company has paid a quarterly dividend since 1987, and each dividend payment has either increased or remained the same from the prior quarter.

The Hartford Financial Services Group (NYSE:HIG) yields 1.31% annually and has a market cap of $13.87 billion. The provider of insurance and financial services will pay a quarterly dividend of $0.10 on July 1, and the quarterly yield will be 0.33% based on yesterday's closing price of $30.64. The company has paid a quarterly dividend since 1996.

These companies also have their ex-dividend date on May 30. All annual yields are estimated.

Kellogg (NYSE:K) yields 2.66% annually and will pay a quarterly dividend of $0.44 on June 17.

Associated Banc-Corp (NASDAQ:ASBC) yields 2.09% quarterly and will pay a quarterly dividend of $0.08 on June 17.

Cooper Tire & Rubber (NYSE:CTB) yields 1.63% annually and will pay a quarterly dividend of $0.105 on June 14.

Group 1 Automotive (NYSE:GPI) yields 1.01% annually and will pay a quarterly dividend of $0.16 on June 17.

Loews Corporation (NYSE:L) yields 0.54% quarterly and will pay a quarterly dividend of $0.0625 on June 14.

Purchase -- and have your broker settle -- before the ex-dividend date to secure the dividend.

Twitter: @ChrisWitrak
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