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, Thursday, July 30, 2015, 44 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.3% to 13.2%. All of these stocks can be found on our

stocks going ex-dividend

section of our

dividend calendar

.

Highlighted Stocks Going Ex-Dividend Tomorrow:

NVE

At a price of $61.52 as of 9:36 a.m. ET, the dividend yield is 6.7%.

The average volume for NVE has been 23,700 shares per day over the past 30 days. NVE has a market cap of $294.2 million and is part of the electronics industry. Shares are down 13% year-to-date as of the close of trading on Tuesday.

EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he thinks could be potential winners. Click here to see his holdings for 14-days FREE.

NVE Corporation develops and sells devices using spintronics, a nanotechnology that utilizes electron spin rather than electron charge to acquire, store, and transmit information. The company has a P/E ratio of 20.78.

TheStreet Ratings rates

NVE

as a

buy

. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full

NVE Ratings Report

now.

Phillips 66 Partners

Owners of

Phillips 66 Partners

(NYSE:

PSXP

) shares, as of market close today, will be eligible for a dividend of 40 cents per share. At a price of $62.63 as of 9:41 a.m. ET, the dividend yield is 2.6%.

The average volume for Phillips 66 Partners has been 198,300 shares per day over the past 30 days. Phillips 66 Partners has a market cap of $2.8 billion and is part of the energy industry. Shares are down 9.6% year-to-date as of the close of trading on Tuesday.

EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he thinks could be potential winners. Click here to see his holdings for 14-days FREE.

Phillips 66 Partners LP owns, operates, develops, and acquires crude oil, refined petroleum products, and natural gas liquids pipelines and terminals, as well as other transportation and midstream assets in the United States. The company has a P/E ratio of 38.37.

TheStreet Ratings rates

Phillips 66 Partners

as a

sell

. The company's weaknesses can be seen in multiple areas, such as its generally disappointing historical performance in the stock itself, premium valuation and generally high debt management risk. You can view the full

Phillips 66 Partners Ratings Report

now.

Lazard

Owners of

Lazard

(NYSE:

LAZ

) shares, as of market close today, will be eligible for a dividend of 35 cents per share. At a price of $54.49 as of 9:41 a.m. ET, the dividend yield is 2.5%.

The average volume for Lazard has been 709,400 shares per day over the past 30 days. Lazard has a market cap of $6.9 billion and is part of the financial services industry. Shares are up 9.2% year-to-date as of the close of trading on Tuesday.

EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he thinks could be potential winners. Click here to see his holdings for 14-days FREE.

Lazard Ltd, together with its subsidiaries, operates as a financial advisory and asset management firm. The company has a P/E ratio of 10.63.

TheStreet Ratings rates

Lazard

as a

buy

. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full

Lazard 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.