X Factor: 5 Stocks Reaching Their Ex-Dividend Date on March 1
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 March 1 as their ex-dividend date. All annual yields are estimated.
PDL BioPharma (PDLI) yields 8.63% annually and has a market cap of $972.53 million. The manager of intellectual property assets will pay a quarterly dividend of $0.15 on March 12. Its quarterly yield will be 2.16% based on yesterday's closing price of $6.95. The company has paid a quarterly dividend since the second half of 2008.
Regal Entertainment Group (RGC) yields 5.38% annually and has a market cap of $2.41 billion. The operator of theatres in the US will pay a quarterly dividend of $0.21 on March 15, and its quarterly yield will be 1.33% based on yesterday's closing price of $15.74. The company has paid a quarterly dividend since the end of 2002.
NV Energy (NVE) yields 3.88% annually and has a market cap of $4.61 billion. The generator and distributor of electricity in Nevada will pay a quarterly dividend of $0.19 on March 20, and its quarterly yield will be 0.98% based on yesterday's closing price of $19.44. The company first paid a quarterly dividend from the second half of 1985 to the beginning of 2002 and resumed paying a quarterly dividend in 2007.
Omnicom Group (OMC) yields 2.82% annually and has a market cap of $15 billion. The global provider of advertising and marketing services will pay a quarterly dividend of $0.40 on April 2, and the quarterly yield will be 0.71% based on yesterday's closing price of $56.44. The company has paid a quarterly dividend since 1998.
KeyCorp (KEY) yields 2.14% annually and has a market cap of $8.65 billion. The holding company for KeyBank National Association will pay a quarterly dividend of $0.05 on March 15, and its quarterly yield will be 0.54% based on yesterday's closing price of $9.34. The company has paid a quarterly dividend since the second half of 2007, and each dividend payment has either increased or remained the same from the prior quarter.
These companies also have their ex-dividend date on March 1. All annual yields are estimated.
Hancock Holding Company (HBHC) yields 3.11% annually and will pay a quarterly dividend of $0.24 on March 15.
Tidewater (TDW) yields 2.07% annually and will pay a quarterly dividend of $0.25 on March 15.
Mainsource Financial Group (MSFG) yields 1.72% annually and will pay a quarterly dividend of $0.06 on March 15.
Alliant Techsystems (ATK) yields 1.59% annually and will pay a quarterly dividend of $0.26 on March 28.
PolyOne Corporation (POL) yields 1.09% annually and will pay a quarterly dividend of $0.06 on April 5.
Purchase -- and have your broker settle -- before the ex-dividend date to secure the dividend.
Twitter: @ChrisWitrak
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