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, July 31, 2015, 13 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 1.3% to 11.4%. All of these stocks can be found on our

stocks going ex-dividend

section of our

dividend calendar

.

Highlighted Stocks Going Ex-Dividend Tomorrow:

Blueknight Energy Partners

Owners of

Blueknight Energy Partners

(NASDAQ:

BKEP

) shares, as of market close today, will be eligible for a dividend of 14 cents per share. At a price of $7.17 as of 9:35 a.m. ET, the dividend yield is 8%.

The average volume for Blueknight Energy Partners has been 51,200 shares per day over the past 30 days. Blueknight Energy Partners has a market cap of $235.3 million and is part of the energy industry. Shares are up 7.5% year-to-date as of the close of trading on Wednesday.

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Blueknight Energy Partners, L.P. provides integrated terminalling, storage, processing, gathering, and transportation services for companies engaged in the production, distribution, and marketing of crude oil and asphalt products in the United States. The company has a P/E ratio of 119.17.

TheStreet Ratings rates

Blueknight Energy Partners

as a

hold

. Among the primary strengths of the company is its expanding profit margins over time. At the same time, however, we also find weaknesses including deteriorating net income, generally higher debt management risk and disappointing return on equity. You can view the full

Blueknight Energy Partners Ratings Report

now.

Rose Rock Midstream

Owners of

Rose Rock Midstream

(NYSE:

RRMS

) shares, as of market close today, will be eligible for a dividend of 65 cents per share. At a price of $40.17 as of 9:30 a.m. ET, the dividend yield is 6.6%.

The average volume for Rose Rock Midstream has been 119,800 shares per day over the past 30 days. Rose Rock Midstream has a market cap of $1.4 billion and is part of the energy industry. Shares are down 11.4% year-to-date as of the close of trading on Wednesday.

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Rose Rock Midstream, L.P. owns, operates, develops, and acquires a portfolio of midstream energy assets. The company gathers, transports, stores, distributes, and markets crude oil in Colorado, Kansas, Louisiana, Montana, New Mexico, North Dakota, Ohio, Oklahoma, Texas, and Wyoming. The company has a P/E ratio of 25.84.

TheStreet Ratings rates

Rose Rock Midstream

as a

buy

. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, reasonable valuation levels and notable return on equity. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full

Rose Rock Midstream Ratings Report

now.

Calumet Specialty Products Partners

Owners of

Calumet Specialty Products Partners

(NASDAQ:

CLMT

) shares, as of market close today, will be eligible for a dividend of 68 cents per share. At a price of $28.10 as of 9:36 a.m. ET, the dividend yield is 9.9%.

The average volume for Calumet Specialty Products Partners has been 317,100 shares per day over the past 30 days. Calumet Specialty Products Partners has a market cap of $2.1 billion and is part of the energy industry. Shares are up 23.5% year-to-date as of the close of trading on Wednesday.

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Calumet Specialty Products Partners, L.P. produces and sells specialty hydrocarbon products in North America. It operates in three segments: Specialty Products, Fuel Products, and Oilfield Services.

TheStreet Ratings rates

Calumet Specialty Products Partners

as a

buy

. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, good cash flow from operations, impressive record of earnings per share growth and notable return on equity. 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

Calumet Specialty Products Partners 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.