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 or Stephanie Link.

Tomorrow, Tuesday, July 29, 2014, 4:00 AM ET, 47 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.8% to 12.4%. All of these stocks can be found on our

stocks going ex-dividend

section of our

dividend calendar

.

Highlighted Stocks Going Ex-Dividend Tomorrow:

Cross Timbers Royalty

Owners of

Cross Timbers Royalty

(NYSE:

CRT

) shares, as of market close today, will be eligible for a dividend of 23 cents per share. At a price of $33.00 as of 9:30 a.m. ET, the dividend yield is 8.2%.

The average volume for Cross Timbers Royalty has been 20,800 shares per day over the past 30 days. Cross Timbers Royalty has a market cap of $199.6 million and is part of the energy industry. Shares are up 11.9% year-to-date as of the close of trading on Friday.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Cross Timbers Royalty Trust operates as an express trust in the United States. The company's function is to collect and distribute monthly net profits income from royalty interests and overriding royalty interests to unit holders. The company has a P/E ratio of 12.90.

TheStreet Ratings rates

Cross Timbers Royalty

as a

buy

. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, solid stock price performance 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

Cross Timbers Royalty Ratings Report

now.

Permian Basin Royalty

Owners of

Permian Basin Royalty

(NYSE:

PBT

) shares, as of market close today, will be eligible for a dividend of 12 cents per share. At a price of $14.20 as of 9:34 a.m. ET, the dividend yield is 7.8%.

The average volume for Permian Basin Royalty has been 158,500 shares per day over the past 30 days. Permian Basin Royalty has a market cap of $659.0 million and is part of the energy industry. Shares are up 10.4% year-to-date as of the close of trading on Friday.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Permian Basin Royalty Trust owns overriding royalty interests in various oil and gas properties in the United States. The company has a P/E ratio of 14.43.

TheStreet Ratings rates

Permian Basin Royalty

as a

buy

. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, increase in net income and expanding profit margins. 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

Permian Basin Royalty Ratings Report

now.

Western Gas Partners

Owners of

Western Gas Partners

(NYSE:

WES

) shares, as of market close today, will be eligible for a dividend of 65 cents per share. At a price of $76.84 as of 9:30 a.m. ET, the dividend yield is 3.4%.

The average volume for Western Gas Partners has been 155,500 shares per day over the past 30 days. Western Gas Partners has a market cap of $9.1 billion and is part of the energy industry. Shares are up 25% year-to-date as of the close of trading on Friday.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Western Gas Partners, LP owns, operates, acquires, and develops midstream energy assets in east, west, and south Texas; the Rocky Mountains; north-central Pennsylvania; and the Mid-Continent. The company has a P/E ratio of 37.46.

TheStreet Ratings rates

Western Gas Partners

as a

buy

. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth, compelling growth in net income, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full

Western Gas 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.

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