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X Factor: 5 Stocks Reaching Their Ex-Dividend Date on April 29

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People's United Financial, TD Ameritrade Holding Corporation, and NRG Energy 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 April 29 as their ex-dividend date. All annual yields are estimated.

People's United Financial (NASDAQ:PBCT) yields 5.05% annually and has a market cap of $4.23 billion. The bank holding company for People's United Bank will pay a quarterly dividend of $0.1625 on May 15, and the quarterly yield will be 1.26% based on Friday's closing price of $12.88. The company has paid a quarterly dividend since 1994.

TD Ameritrade Holding Corporation (NYSE:AMTD) yields 1.87% annually and has a market cap of $10.58 billion. The provider of securities brokerage services and technology-based financial services will pay a quarterly dividend of $0.09 on May 15, and its quarterly yield will be 0.47% based on Friday's closing price of $19.28. The company first paid a dividend in 2006 and resumed paying a quarterly dividend in the end of 2010.

NRG Energy (NYSE:NRG) yields 1.76% annually and has a market cap of $8.81 billion. The integrated wholesale power generation and retail electricity company will pay a quarterly dividend of $0.12 on May 15, and the quarterly yield will be 0.44% based on Friday's closing price of $27.26. The company began paying a quarterly dividend last year.

The AES Corporation (NYSE:AES) yields 1.24% annually and has a market cap of $9.60 billion. The diversified power generation and utility company will pay a quarterly dividend of $0.04 on May 15, and its quarterly yield will be 0.31% based on Friday's closing price of $12.87. The company first paid a dividend from 1992 through the first quarter of 1994 and resumed paying a quarterly dividend in 2012.

Zoetis (NYSE:ZTS) yields 0.79% annually and has market cap of $16.35 billion. The producer of animal health medicines and vaccines will pay a quarterly dividend of $0.065 on June 6, and its quarterly yield will be 0.20% based on Friday's closing price of $32.71. This will be the company's first dividend.

These companies also have their ex-dividend date on April 29. All annual yields are estimated.

Aegon N.V. (NYSE:AEG) yields 4.24% annually and will pay a quarterly dividend of $0.1248 on June 14.

Burger King Worldwide (NYSE:BKW) yields 1.31% annually and will pay a quarterly dividend of $0.06 on May 15.

Cheniere Energy Partners (NYSEAMEX:CQP) yields 6.36% annually and will pay a quarterly dividend of $0.425 on May 15.

Hasbro (NASDAQ:HAS) yields 3.55% annually and will pay a quarterly dividend of $0.40 on May 15.

Pinnacle West Capital Corporation (NYSE:PNW) yields 3.67% annually and will pay a quarterly dividend of $0.545 on June 3.

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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