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, Wednesday, August 05, 2015, 44 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.7% to 32.9%. All of these stocks can be found on our

stocks going ex-dividend

section of our

dividend calendar

.

Highlighted Stocks Going Ex-Dividend Tomorrow:

Seadrill Partners

Owners of

Seadrill Partners

(NYSE:

SDLP

) shares, as of market close today, will be eligible for a dividend of 57 cents per share. At a price of $12.15 as of 9:36 a.m. ET, the dividend yield is 17.6%.

The average volume for Seadrill Partners has been 321,600 shares per day over the past 30 days. Seadrill Partners has a market cap of $968.1 million and is part of the energy industry. Shares are down 26.7% year-to-date as of the close of trading on Monday.

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Seadrill Partners LLC owns, operates, and acquires offshore drilling units. The company primarily serves various oil and gas companies. As of March 31, 2015, its fleet consisted of four semi-submersible drilling rigs, three drillships, and three tender rigs. The company has a P/E ratio of 5.98.

TheStreet Ratings rates

Seadrill Partners

as a

sell

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

Seadrill Partners Ratings Report

now.

Aspen Insurance Holdings

Owners of

Aspen Insurance Holdings

(NYSE:

AHL

) shares, as of market close today, will be eligible for a dividend of 21 cents per share. At a price of $48.24 as of 9:36 a.m. ET, the dividend yield is 1.8%.

The average volume for Aspen Insurance Holdings has been 277,700 shares per day over the past 30 days. Aspen Insurance Holdings has a market cap of $2.9 billion and is part of the insurance industry. Shares are up 10.6% year-to-date as of the close of trading on Monday.

TheStreet Recommends

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Aspen Insurance Holdings Limited, through its subsidiaries, engages in insurance and reinsurance businesses worldwide. Its Insurance segment offers property and casualty insurance, including U.S. and the United Kingdom commercial property and construction business, commercial liability, U.S. The company has a P/E ratio of 12.52.

TheStreet Ratings rates

Aspen Insurance Holdings

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, attractive valuation levels, good cash flow from operations 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

Aspen Insurance Holdings Ratings Report

now.

Magellan Midstream Partners L.P

Owners of

Magellan Midstream Partners L.P

(NYSE:

MMP

) shares, as of market close today, will be eligible for a dividend of 74 cents per share. At a price of $69.46 as of 9:36 a.m. ET, the dividend yield is 4.2%.

The average volume for Magellan Midstream Partners L.P has been 589,000 shares per day over the past 30 days. Magellan Midstream Partners L.P has a market cap of $16.0 billion and is part of the energy industry. Shares are down 16.2% year-to-date as of the close of trading on Monday.

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Magellan Midstream Partners, L.P. engages in the transportation, storage, and distribution of refined petroleum products and crude oil in the United States. It operates in three segments: Refined Products, Crude Oil, and Marine Storage. The company has a P/E ratio of 20.52.

TheStreet Ratings rates

Magellan Midstream Partners L.P

as a

buy

. The company's strengths can be seen in multiple areas, such as its notable return on equity and expanding profit margins. 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

Magellan Midstream Partners L.P 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.