Tomorrow, Tuesday, October 20, 2015, 13 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.3% to 11%. All of these stocks can be found on our

stocks going ex-dividend

section of our

dividend calendar

.

Highlighted Stocks Going Ex-Dividend Tomorrow:

Managed High Yield Plus Fund

Owners of

Managed High Yield Plus Fund

(NYSE:

HYF

) shares, as of market close today, will be eligible for a dividend of 1 cent per share. At a price of $1.88 as of 9:36 a.m. ET, the dividend yield is 8.3%.

The average volume for Managed High Yield Plus Fund has been 235,900 shares per day over the past 30 days. Managed High Yield Plus Fund has a market cap of $116.2 million and is part of the financial services industry. Shares are up 3.3% year-to-date as of the close of trading on Friday.

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The company has a P/E ratio of 1.75.

Miller/Howard High Income Equity Fund

Owners of

Miller/Howard High Income Equity Fund

(NYSE:

HIE

) shares, as of market close today, will be eligible for a dividend of 12 cents per share. At a price of $13.83 as of 9:31 a.m. ET, the dividend yield is 10%.

The average volume for Miller/Howard High Income Equity Fund has been 85,600 shares per day over the past 30 days. Miller/Howard High Income Equity Fund has a market cap of $170.2 million and is part of the financial services industry. Shares are down 30.5% year-to-date as of the close of trading on Friday.

TheStreet Recommends

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Compass Diversified Holdings

Owners of

Compass Diversified Holdings

(NYSE:

CODI

) shares, as of market close today, will be eligible for a dividend of 36 cents per share. At a price of $16.92 as of 9:30 a.m. ET, the dividend yield is 8.4%.

The average volume for Compass Diversified Holdings has been 126,800 shares per day over the past 30 days. Compass Diversified Holdings has a market cap of $929.6 million and is part of the conglomerates industry. Shares are up 4.2% year-to-date as of the close of trading on Friday.

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Compass Diversified Holdings is a private equity firm specializing in acquisitions, buyouts, and middle market investments. It seeks to invest in manufacturing, distribution, consumer products, and business services sectors. The firm prefers to invest in companies based in North America. The company has a P/E ratio of 3.34.

TheStreet Ratings rates

Compass Diversified Holdings

as a

buy

. The company's strengths can be seen in multiple areas, such as its revenue growth, compelling growth in net income, notable return on equity, attractive valuation levels and good cash flow from operations. We feel its strengths outweigh the fact that the company shows low profit margins. You can view the full

Compass Diversified Holdings 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.