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X Factor: 5 Stocks Reaching Their Ex-Dividend Date on August 6

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Entergy Corporation, Peabody Energy Corporation, and Discovery Financial Services are on the list.

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Many stocks will reach their ex-dividend date next Tuesday, 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 6 as their ex-dividend date. All annual yields are estimated.

Entergy Corporation (NYSE:ETR) yields 4.71% annually and has a market cap of $12.57 billion. The producer and distributor of electricity in the US will pay a quarterly dividend of $0.83 on September 3, and the quarterly yield will be 1.18% based on yesterday's closing price of $70.53. The company has paid a quarterly dividend since 1982.

Peabody Energy Corporation (NYSE:BTU) yields 2.05% annually and has a market cap of $4.44 billion. The global mining company will pay a quarterly dividend of $0.085 on August 29, and the quarterly yield will be 0.51% based on yesterday's closing price of $16.60. The company has paid a quarterly dividend since the end of 2001, and each dividend payment has either increased or remained the same from the prior quarter.

Discovery Financial Services (NYSE:DFS) yields 1.61% annually and has a market cap of $24.11 billion. The bank holding company will pay a quarterly dividend of $0.20 on August 22, and its quarterly yield will be 0.40% based on yesterday's closing price of $49.61. The company has paid a quarterly dividend since the second half of 2007.

Southwest Airlines (NYSE:LUV) yields 1.17% annually and has a market cap of $9.78 billion. The global airline company will pay a quarterly dividend of $0.04 on August 29, and the quarterly yield will be 0.29% based on yesterday's closing price of $13.70. The company has paid a quarterly dividend since 1997.

Starbucks (NASDAQ:SBUX) yields 1.16% annually and has a market cap of $53.87 billion. The global coffee company will pay a quarterly dividend of $0.21 on August 23, and the quarterly yield will be 0.29% based on yesterday's closing price of $72.45. The company has paid a quarterly dividend since 2010.

These companies also have their ex-dividend date on August 6. All annual yields are estimated.

Navios Maritime Partners (NYSE:NMM) yields 11.70% annually and will pay a quarterly dividend of $0.4425 on August 13.

Sunoco Logistics Partners (NYSE:SXL) yields 3.90% annually and will pay a quarterly dividend of $0.60 on August 14.

Sensient Technologies Corporation (NYSE:SXT) yields 2.11% annually and will pay a quarterly dividend of $0.23 on September 3.

MarketAxess Holdings (NASDAQ:MKTX) yields 0.99% annually and will pay a quarterly dividend of $0.13 on August 22.

Wintrust Financial Corporation (NASDAQ:WTFC) yields 0.44% annually and will pay a semi-annual dividend of $0.09 on August 22.

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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