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X Factor: 5 Stocks Reaching Their Ex-Dividend Date on May 14

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Microsoft, Archer Daniels Midland Company, and Marathon Oil Corporation 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 May 14 as their ex-dividend date. All annual yields are estimated.

Microsoft (NASDAQ:MSFT) yields 2.73% annually and has a market cap of $281.85 billion. The software and hardware company will pay a quarterly dividend of $0.23 on June 13, and the quarterly yield will be 0.68% based on yesterday's closing price of $33.75. The company has paid a dividend since 2003 and a quarterly dividend since 2005.

Archer Daniels Midland Company (NYSE:ADM) yields 2.24% annually and has a market cap of $22.43 billion. The producer of protein meal, vegetable oil, corn sweeteners, and other agricultural products will pay a quarterly dividend of $0.19 on June 6, and the quarterly yield will be 0.56% based on yesterday's closing price of $33.88. The company has paid a quarterly dividend since 1983, and each dividend payment has either increased or remained the same from the prior quarter.

Marathon Oil Corporation (NYSE:MRO) yields 1.97% annually and has a market cap of $23.76 billion. The global energy company will pay a quarterly dividend of $0.17 on June 10, and the quarterly yield will be 0.51% based on yesterday's closing price of $33.58. The company has paid a quarterly dividend since 1972.

Amgen (NASDAQ:AMGN) yields 1.79% annually and has a market cap of $78.62 billion. The biotechnology company will pay a quarterly dividend of $0.47 on June 7, and the quarterly yield will be 0.45% based on yesterday's closing price of $104.83. The company has paid a quarterly dividend since the middle of 2011.

The TJX Companies (NYSE:TJX) yields 1.18% annually and has a market cap of $35.68 billion. The apparel and home fashions retailer will pay a quarterly dividend of $0.145 on June 6, and its quarterly yield will be 0.29% based on yesterday's closing price of $49.29. The company has paid a quarterly dividend since 1988, and each dividend payment has either increased or remained the same from the prior quarter.

These companies also have their ex-dividend date on May 14. All annual yields are estimated.

Buckeye Partners (NYSE:BPL) yields 6.30% annually and will pay a quarterly dividend of $1.05 on May 31.

Westpac Banking Corporation (NYSE:WBK) yields 5.79% annually and will pay a semi-annual dividend of $4.95 on July 10.

Duke Realty Corporation (NYSE:DRE) yields 3.73% annually and will pay a quarterly dividend of $0.17 on May 31.

American Campus Communities (NYSE:ACC) yields 3.30% annually and will pay a quarterly dividend of $0.36 on May 30.

Franco-Nevada Corporation (NYSE:FNV) yields 1.69% annually and will pay a monthly dividend of $0.06 on May 30.

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

Twitter: @ChrisWitrak
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No positions in stocks mentioned.
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