Ex-Dividend Stocks: CBS, Chico's

NEW YORK ( TheStreet) -- The following stocks go ex-dividend Thursday, meaning an investor must purchase the shares Wednesday to qualify for the next dividend payment: CBS ( CBS), Chico's ( CHS), H&R Block ( HRB), Kronos Worldwide ( KRO), Kansas City Southern ( KSU), Prologis ( PLD), Reynolds American ( RAI) and SCANA ( SCANA).

CBS

The media company reported first-quarter net earnings on May 1 of $363 million, or 54 cents a share, up from $202 million, or 29 cents a share, a year earlier.

"H2 2012 is expected to be strong," Wells Fargo analysts wrote in a report on May 30. "Management sees political revenues, which are expected to be north of the $140MM generated in the 2008 Presidential election and Japanese auto (which are comping against a depressed 2011 due to the tsunami) as two major drivers."

Forward Annual Dividend Yield: 1.3%

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Chico's

The retailer reported first-quarter earnings on May 16 of $53.6 million, or 32 cents a share, up from year-earlier earnings of $45.9 million, or 26 cents a share.

"The investor meetings reinforced our positive view of the growth potential of CHS' four brands which are all in varying stages of growth providing significant square footage and margin opportunities especially at the younger concepts of Soma and Boston Proper," Sterne Agee analysts wrote in a report on May 31. "We reiterate our Buy rating and $18 target (14x FY13E).

Forward Annual Dividend Yield: 1.4%


Kronos Worldwide

The titanium dioxide pigment maker reported on May 9 first-quarter net income of $136.9 million, or $1.18 a share, up from year-earlier earnings of $60.3 million, or 52 cents a share.

"With higher feedstock costs expected to weigh on results, we believe TiO2 margins will be challenged in 2012," Wells Fargo analysts wrote in a May 14 report. "Capacity remains tight amid good demand, but we sense inventories are beginning to creep, limiting pricing power. We find current valuation to be fair, especially when taking the limited float into account."

Forward Annual Dividend Yield: 3.3%

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Kansas City Southern

The railway transportation company reported first-quarter net income on April 24 of $75 million, or 68 cents a share, up from year-earlier earnings of $64 million, or 58 cents a share.

"We are lowering our 2012 and 2013 EPS estimates 6% and 5%, to $3.28 and $4.10, from $3.50 and $4.30, respectively, due to lower 2Q coal and chemical volume trends," Bank of America Merrill Lynch analysts wrote in a May 29 report. "We are also lowering our price objective to $74 from $81, based on a 22.5x forward P/E on our 2012E EPS (from 23x), which equates to 18x our 2013 estimate, within its 13-28x forward PE range. With 5 weeks left in 2Q, we believe volumes are unlikely to recover given its utility customer has extended its target to resume coal deliveries to the end of May, its 5th delay (represents 2 of KSU's 9 served plants)."

Forward Annual Dividend Yield: 1.2%


Prologis

The real estate investment trust reported first-quarter earnings on May 1 of $202.4 million, or 44 cents a share, a reversal from a year-earlier loss of $46.6 million, or 18 cents a share.

"We are increasing our price target on PLD to $38.50 from $37.00 following 1Q:12 results," Cantor Fitzgerald analysts wrote in a May 15 report. "The increase is primarily due to our increased NAV calculation to $35.00 from $32.00, due primarily to a higher future development pipeline valuation. Additionally, it is important to note we are reducing our applied premium to 10% from 15% due to the continued uncertainty in Europe."

Forward Annual Dividend Yield: 3.6%

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Reynolds American

The tobacco company reported on April 24 first-quarter adjusted earnings of $364 million, or 63 cents a share, down from year-earlier earnings of $372 million, or 64 cents a share.

"RAI's board announced a 5.4% increase (or $0.03 per share) in its quarterly cash dividend to $0.59 (from $0.56)," Bank of America Merrill Lynch analysts wrote in a May 3 report. "The dividend is payable on July 2, 2012 to shareholders of record on June 11, 2012. This puts RAI's annualized (or indicated) dividend at $2.36 (up from $2.24), representing a payout of 80.6% on our estimated 2012 EPS of $2.93. The dividend hike was on target with our forecast of $0.59 but six months ahead in terms of timing given its last dividend hike in late October."

Forward Annual Dividend Yield: 5.6%


Scana

The electricity utility reported first-quarter earnings on May 3 of $121 million, or 91 cents a share, down from year-earlier earnings of $128 million, or $1 a share.

"We believe SCG should trade at a one-turn discount multiple to the average regulated utility due to its new nuclear concentration risk and little non-nuclear growth," Bank of America Merrill Lynch analysts wrote in a May 7 report. "We are raising our PO from $44 to $46 based on higher group average multiple. Our PO is based on a P/E of 13x 2014E earnings of $3.56."

Forward Annual Dividend Yield: 4.2%

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-- Written by Alexandra Zendrian

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