Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer.

Tomorrow, Friday, August 07, 2015, 20 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.7% to 20.1%. All of these stocks can be found on our

stocks going ex-dividend

section of our

dividend calendar

.

Highlighted Stocks Going Ex-Dividend Tomorrow:

Calamos Dynamic Convertible and Income Fund

Owners of

Calamos Dynamic Convertible and Income Fund

(NASDAQ:

CCD

) shares, as of market close today, will be eligible for a dividend of 17 cents per share. At a price of $21.08 as of 9:30 a.m. ET, the dividend yield is 9.5%.

The average volume for Calamos Dynamic Convertible and Income Fund has been 93,200 shares per day over the past 30 days. Calamos Dynamic Convertible and Income Fund has a market cap of $512.0 million and is part of the financial services industry. Shares are unchanged year-to-date as of the close of trading on Wednesday.

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EV Energy Partners

Owners of

EV Energy Partners

(NASDAQ:

EVEP

) shares, as of market close today, will be eligible for a dividend of 50 cents per share. At a price of $8.01 as of 9:36 a.m. ET, the dividend yield is 20.1%.

The average volume for EV Energy Partners has been 404,400 shares per day over the past 30 days. EV Energy Partners has a market cap of $486.8 million and is part of the energy industry. Shares are down 54.4% year-to-date as of the close of trading on Wednesday.

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EV Energy Partners, L.P. engages in the acquisition, development, and production of oil and natural gas properties in the United States. The company operates in two segments, Exploration and Production, and Midstream. The company has a P/E ratio of 7.11.

TheStreet Ratings rates

EV Energy Partners

as a

sell

. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, generally high debt management risk, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share. You can view the full

EV Energy Partners Ratings Report

now.

Papa John's International

Owners of

Papa John's International

(NASDAQ:

PZZA

) shares, as of market close today, will be eligible for a dividend of 18 cents per share. At a price of $72.38 as of 9:36 a.m. ET, the dividend yield is 0.9%.

The average volume for Papa John's International has been 302,900 shares per day over the past 30 days. Papa John's International has a market cap of $3.0 billion and is part of the leisure industry. Shares are up 28.1% year-to-date as of the close of trading on Wednesday.

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Papa John's International, Inc. operates and franchises pizza delivery and carryout restaurants under the trademark Papa John's in the United States and internationally. The company also operates dine-in and delivery restaurants in certain international markets. The company has a P/E ratio of 39.38.

TheStreet Ratings rates

Papa John's International

as a

buy

. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, good cash flow from operations, impressive record of earnings per share growth and increase in net income. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated. You can view the full

Papa John's International Ratings Report

now.

More About Dividends:

One benefit of owning a stock is the potential that you will be paid a dividend. The distribution of dividend payments is another way for a company to share its profit with you. A dividend means that the company pays you a certain amount of money, either as a one-time payment or more commonly on a quarterly basis, for each share of stock you own.

Many times, dividends come at the expense of greater price appreciation, because the company is distributing its profits to shareholders rather than reinvesting the profits back into the growth of the company. However, companies that pay dividends can be very attractive to investors when they offer a steady stream of income. There are some important terms and dates an investor should be familiar with before purchasing any dividend-paying companies. Let's work through an example to help better explain some of these terms:

On March 1, ABC Widget Company has decided that because it holds excess cash and lacks investment opportunities, it would like to reward shareholders with a regular quarterly dividend payment. The date for this particular announcement is known as the declaration date. It is on this date that the company announces the specific dividend payment along with the holder-of-record date (aka record date) and the payment date. The company announces that a dividend payment of 25 cents per share will be payable March 31, 2012 (the payment date) to all shareholders of record at the close of business on March 16, 2012 (holder-of-record date). What does this all mean? Well the short story is that the company looks at its records on March 16 and anyone listed on the books as an owner of ABC Widget company will be eligible for the dividend payment (on March 31).

The one other important term to remember is the ex-dividend date. The ex-dividend date (typically two trading days before the holder-of-record date for U.S. securities) is the day in which a company begins trading without the dividend. In order to have a claim on a dividend, shares must be purchased no later than the last business day before the ex-dividend date. A company trading ex-dividend will have the upcoming dividend subtracted from the share price at the start of the trading day. Many times, the price of a stock will increase in anticipation of the upcoming dividend as the ex-dividend date approaches, yet will fall back by the amount of the dividend on the ex-dividend date.