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X Factor: 5 Stocks Reaching Their Ex-Dividend Date on April 26

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Prospect Capital Corporation, Texas Instruments, and NiSource are on the list.

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Many 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 April 26 as their ex-dividend date. All annual yields are estimated.

Prospect Capital Corporation (NASDAQ:PSEC) yields 12.56% annually and has a market cap of $2.26 billion. The business development company will pay a monthly dividend of $0.1101 on May 23, and its quarterly yield will be 1.05% based on yesterday's closing price of $10.51. The company has paid a dividend since 2004 and a monthly dividend since 2010.

Texas Instruments (NASDAQ:TXN) yields 3.30% annually and has a market cap of $37.47 billion. The global producer of semiconductors will pay a quarterly dividend of $0.28 on May 20, and its quarterly yield will be 0.83% based on yesterday's closing price of $33.92. The company has paid a quarterly dividend since 1972, and each dividend payment has either increased or remained the same from the prior quarter.

NiSource (NYSE:NI) yields 3.13% annually and has a market cap of $9.54 billion. The provider of natural gas, electricity, and other products will pay a quarterly dividend of $0.24 on May 20, and its quarterly yield will be 0.78% based on yesterday's closing price of $30.67. The company has paid a quarterly dividend since the end of 1987.

ConAgra Foods (NYSE:CAG) yields 2.82% annually and has a market cap of $14.76 billion. The North American food company will pay a quarterly dividend of $0.25 on May 31, and the quarterly yield will be 0.71% based on yesterday's closing price of $35.42. The company has paid a quarterly dividend since the second half of 1977.

ASML Holding NV (NASDAQ:ASML) yields 0.84% annually and has a market cap of $29.08 billion. The global producer of semiconductor processing equipment will pay an annual dividend of $0.5998 on May 14. The company has paid an annual dividend since 2007.

These companies also have their ex-dividend date on April 26. All annual yields are estimated.

EPR Properties (NYSE:EPR) yields 5.93% annually and will pay a quarterly dividend of $0.2633 on May 15.

Enterprise Products Partners (NYSE:EPD) yields 4.44% annually and will pay a quarterly dividend of $0.67 on May 7.

Northwest Natural Gas Company (NYSE:NWN) yields 4.11% annually and will pay a quarterly dividend of $0.455 on May 15.

Alliant Energy Corporation (NYSE:LNT) yields 3.67% annually and will pay a quarterly dividend of $0.47 on May 15.

Tanger Factory Outlet Centers (NYSE:SKT) yields 2.45% annually and will pay a quarterly dividend of $0.225 on May 15.

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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