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, Tuesday, April 28, 2015, 48 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.1% to 18.5%. All of these stocks can be found on our

stocks going ex-dividend

section of our

dividend calendar

.

Highlighted Stocks Going Ex-Dividend Tomorrow:

Mesa Royalty

Owners of

Mesa Royalty

(NYSE:

MTR

) shares, as of market close today, will be eligible for a dividend of 8 cents per share. At a price of $21.90 as of 9:30 a.m. ET, the dividend yield is 12%.

The average volume for Mesa Royalty has been 7,300 shares per day over the past 30 days. Mesa Royalty has a market cap of $40.1 million and is part of the financial services industry. Shares are down 16.2% year-to-date as of the close of trading on Friday.

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Mesa Royalty Trust holds net overriding royalty interests in various oil and gas properties in the United States. It has interests in properties located in the Hugoton field of Kansas; the San Juan Basin field of New Mexico and Colorado; and the Yellow Creek field of Wyoming. The company has a P/E ratio of 6.29.

TheStreet Ratings rates

Mesa Royalty

as a

hold

. 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 and notable return on equity. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year. You can view the full

Mesa Royalty Ratings Report

now.

Independence Realty

Owners of

Independence Realty

(AMEX:

IRT

) shares, as of market close today, will be eligible for a dividend of 6 cents per share. At a price of $9.36 as of 9:31 a.m. ET, the dividend yield is 7.7%.

The average volume for Independence Realty has been 105,900 shares per day over the past 30 days. Independence Realty has a market cap of $298.9 million and is part of the real estate industry. Shares are up 0.6% year-to-date as of the close of trading on Friday.

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Independence Realty Trust, Inc is an equity real estate investment trust launched by RAIT Financial Trust. It is managed by Independence Realty Advisors, LLC. The fund invests in the real estate markets of the United States. It makes investments in apartment properties to create its portfolio. The company has a P/E ratio of 66.93.

TheStreet Ratings rates

Independence Realty

as a

hold

. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations and notable return on equity. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, poor profit margins and relatively poor performance when compared with the S&P 500 during the past year. You can view the full

Independence Realty Ratings Report

now.

Susquehanna

Owners of

Susquehanna

(NASDAQ:

SUSQ

) shares, as of market close today, will be eligible for a dividend of 9 cents per share. At a price of $13.41 as of 9:37 a.m. ET, the dividend yield is 2.7%.

The average volume for Susquehanna has been 1.1 million shares per day over the past 30 days. Susquehanna has a market cap of $2.4 billion and is part of the banking industry. Shares are down 0.1% year-to-date as of the close of trading on Friday.

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Susquehanna Bancshares, Inc. operates as the bank holding company for Susquehanna Bank that provides a range of retail and commercial banking, and financial products and services in the mid-Atlantic region. The company has a P/E ratio of 18.12.

TheStreet Ratings rates

Susquehanna

as a

buy

. The company's strengths can be seen in multiple areas, such as its expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share. You can view the full

Susquehanna 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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