Ex-Dividend Stocks: Microsoft, Avon

NEW YORK ( TheStreet) - The following stocks go ex-dividend Tuesday, meaning an investor must purchase the shares Monday to qualify for the next dividend payment: Microsoft ( MSFT), Avon Products ( AVP), Columbia Sportswear ( COLM), Gildan ( GIL) and Simon Property Group ( SPG).

Microsoft

The software maker reported on April 19 third-quarter net income of $5.11 billion, or 60 cents a share, down from year-earlier earnings of $5.23 billion, or 61 cents a share.

"MSFT reported solid 3Q12 results, with revenue and EPS coming in ahead of consensus," Oppenheimer analysts wrote in an April 20 report. "The company saw strong demand in its business desktop and infrastructure offerings providing it with solid revenue growth coupled with continued cost discipline which drove double digit operating income growth of 12%. We believe that the upcoming release of Windows 8, the next version of Office and the Windows phone could provide some upside in a declining PC environment. Reiterate Outperform and $36 price target."

Forward Annual Dividend Yield: 2.6%

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Avon Products

Coty increased its bid for beauty supplies company Avon on Thursday to $24.75 a share.

"Avon has announced today that it has received a letter from Coty increasing itsoffer to acquire the company to $24.75/share, up from the most recent bid of $23.25 on April 2nd, and the first proposal of $22.25," Bank of America Merrill Lynch analysts wrote in a report Thursday. "When Coty publicized its $23.25 offer, Avon quickly responded within the hour, saying that the offer substantially undervalued the company, was opportunistically timed, and an indication of interest did not constitute a real offer. This time, Avon is saying its Board will consider the letter in due course. In between the two most recent offers, Avon reported a weaker than expected quarter that also disappointed the new management team."

On Sunday, Avon said it would consider selling itself to Coty after Coty sweetened the deal. Avon said its board would respond to Coty within a week.

Forward Annual Dividend Yield: 4.7%


Columbia Sportswear

The sportswear company reported on April 26 first-quarter net income of $3.9 million, or 11 cents a share, down from year-earlier net income of $12.8 million, or 37 cents a share.

"Given the ongoing impact of elevated outerwear/cold weather inventory levels and cautious retailer ordering (particularly in Europe), we now expect COLM revenue to grow 0.4% in 2012 (vs. prior 2.3%) with full year operating margin in-line with 2011," Bank of America Merrill Lynch analysts wrote in an April 30 report. "While GM is expected to contract 30 to 50bps, we expect this to be offset by slight SGA leverage supported by the cost containment measures implemented in 1Q, with the majority of SGA leverage weighted to the backhalf (with y/y SGA $ down in 2H12). Given our more muted 2012 sales and margin outlook, we are lowering our F2012E EPS to $2.90 (from $3.10). Our PO remains $55, 16-17x our 2013E EPS of $3.40."

Forward Annual Dividend Yield: 1.9%

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Gildan

The activewear company announced Wednesday that it completed its acquisition of Anvil Holdings, another activewear firm.

"Moreover, we are disappointed Gildan did not raise fiscal 2012 EPS guidance despite a modest 2Q beat, stronger underlying distributor demand and the inherent incremental market share opportunities as HanesBrands (HBI: 28.08) withdraws from the screenprint business," Miller Tabak analysts wrote in a May 3 report. "In our view, the company is facing headwinds in its efforts to increase penetration of the largerretail market, the net effect of which in the short term are higher cotton costs in the current quarter. 2Q EPS guidance of $0.65 a share compares with our original estimate of $0.75."

Forward Annual Dividend Yield: 1.2%


Simon Property Group

"Outperform rating maintained due to strong fundamentals and a growing pipeline of external growth opportunities supported by SPG's low capital cost," Wells Fargo analysts wrote in an April 27 report. "Raising 2012/2013 FFO/share ests. from $7.61 to $7.67 and $8.08 to $8.26. Increasing valuation range from $144-$154 to $170-$180, a 10% premium to our NAV range of $154-$165. Believe premium is justified by SPG's proven operating and development accumen and a management team that has shown its ability to create value for shareholders over time."

Forward Annual Dividend Yield: 2.6%

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-- Written by Alexandra Zendrian

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