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X Factor: 5 High-Yield Stocks Reaching Their Ex-Dividend Date on September 4

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SeaDrill Limited, France Telecom, and Principal Financial Group are on the list.

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MINYANVILLE ORIGINAL Twenty-seven stocks will reach their ex-dividend date on September 4, 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. Dividends are paid on the dividend record date, usually two business days after the ex-dividend date.

Purchasers must own a stock several days prior to the dividend record date to get the dividend. Those purchasing right before the 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 effect since it can still take up to three business days for transactions to be credited to and settled in an investor's account. (See also: 10 Undervalued Dividend-Paying Stocks With Momentum.)

Below are high-yield stocks that schedule September 4 as their ex-dividend date. All annual yields are estimated.

SeaDrill Limited (SDRL) yields 7.82% annually and has a market cap of $19.15 billion. The offshore deepwater drilling company will pay a quarterly dividend of $0.84 on September 20. This dividend results in monthly yield of 2.05% based on yesterday's closing price of $40.92. The company has paid a quarterly dividend since the middle of 2012, and it has increased almost every quarter.

France Telecom (FTE) yields 13.88% annually and has a market cap of $35.99 billion.The international telecommunications company will pay a semi-annual dividend of $0.71; however, the company has not announced when the dividend will be paid in September. Its semi-annual yield will be 5.19% based on yesterday's closing price of $13.68. The company has paid a dividend since 1998. The dividend has fluctuated between an annual and semi-annual dividend.

Weingarten Realty Investors (WRI) yields 4.15% annually. The shopping center management company has a market cap of $3.39 billion and will pay a monthly dividend of $0.29 on September 14. Its monthly yield will be 1.04% based on yesterday's closing price of $27.94. The company has paid a quarterly dividend since 1988.

China Mobile (CHL) yields 3.24% annually and has a market cap of $214.7 billion. The Chinese mobile telecommunications services company will pay a semi-annual dividend of $0.95 on October 9. Its semi-annual yield will be 1.78% based on yesterday's closing price of $53.41. The company has paid a semi-annual dividend since 2003, except for 2005.

Principal Financial Group (PFG) yields 3.07% annually and has a market cap of $8.07 billion. The financial services company will pay a quarterly dividend of $0.21 on September 28. Its monthly yield will be 0.77% based on yesterday's closing price of $27.34. The company had paid an annual dividend from 2002 to 2011, and then switched to a quarterly dividend this year.

These companies also have their ex-dividend date on September 4. All annual yields are estimated.

Newmont Mining Corp. (NEM) yields 2.88% annually and will pay a $0.35 dividend on September 28.

The Interpublic Group of Companies (IPG) yields 2.26% annually and will pay a quarterly dividend of $0.06 on September 20.

Lear Corporation (LEA) yields 1.45% annually and will quarterly dividend of $0.14 on September 25.

Lender Processing Services (LPS) yields 1.45% annually and will pay a quarterly dividend of $0.10 on September 20.

Solera Holdings (SLH) yields 1.23% annually and will pay a $0.125 dividend on September 18.

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

(See also: 11 High-Quality Dividend-Paying Stocks to Consider Ahead of First Quarter.)

Twitter: @ChrisWitrak
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