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, August 06, 2015, 45 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.3% to 19.2%. All of these stocks can be found on our

stocks going ex-dividend

section of our

dividend calendar

.

Highlighted Stocks Going Ex-Dividend Tomorrow:

Sprague Resources

Owners of

Sprague Resources

(NYSE:

SRLP

) shares, as of market close today, will be eligible for a dividend of 49 cents per share. At a price of $26.07 as of 9:33 a.m. ET, the dividend yield is 7.4%.

The average volume for Sprague Resources has been 26,100 shares per day over the past 30 days. Sprague Resources has a market cap of $291.0 million and is part of the energy industry. Shares are up 9% 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.

The company has a P/E ratio of 6.36.

Symetra Financial

Owners of

Symetra Financial

(NYSE:

SYA

) shares, as of market close today, will be eligible for a dividend of 50 cents per share. At a price of $25.15 as of 9:34 a.m. ET, the dividend yield is 1.8%.

The average volume for Symetra Financial has been 369,500 shares per day over the past 30 days. Symetra Financial has a market cap of $2.9 billion and is part of the insurance industry. Shares are up 8.5% 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.

Symetra Financial Corporation, through its subsidiaries, provides products and services that serve the retirement, employee-based benefits, and life insurance markets in the United States and the District of Columbia. The company has a P/E ratio of 16.79.

TheStreet Ratings rates

Symetra Financial

as a

buy

. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and solid stock price performance. We feel its strengths outweigh the fact that the company has had sub par growth in net income. You can view the full

Symetra Financial Ratings Report

now.

Penske Automotive Group

Owners of

Penske Automotive Group

(NYSE:

PAG

) shares, as of market close today, will be eligible for a dividend of 24 cents per share. At a price of $53.80 as of 9:33 a.m. ET, the dividend yield is 1.8%.

The average volume for Penske Automotive Group has been 267,600 shares per day over the past 30 days. Penske Automotive Group has a market cap of $4.8 billion and is part of the specialty retail industry. Shares are up 8.5% 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.

Penske Automotive Group, Inc. operates as an automotive retailer. The company operates through two segments, Retail Automotive and Other. The company has a P/E ratio of 14.60.

TheStreet Ratings rates

Penske Automotive Group

as a

buy

. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and attractive valuation levels. 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

Penske Automotive Group 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.