4 Stocks Going Ex-Dividend Tomorrow: CNO, PFG, ESV, ETN

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

Tomorrow, March 7, 2013, 22 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.5% to 7.9%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

CNO Financial Group

Owners of CNO Financial Group (NYSE: CNO) shares as of market close today will be eligible for a dividend of 2 cents per share. At a price of $11.19 as of 9:36 a.m. ET, the dividend yield is 0.7%.

The average volume for CNO Financial Group has been 1.9 million shares per day over the past 30 days. CNO Financial Group has a market cap of $2.4 billion and is part of the insurance industry. Shares are up 18.9% year to date as of the close of trading on Tuesday.

EXCLUSIVE OFFER: Jim Cramer's Protégé, Dave Peltier, only buys dividend stocks that have the potential for a 3% to 4% yield and 10% growth. Get his best picks for less than $50/year.

CNO Financial Group, Inc., through its subsidiaries, engages in the development, marketing, and administration of health insurance, annuity, individual life insurance, and other insurance products for senior and middle-income markets in the United States. The company has a P/E ratio of 13.06. Currently there is 1 analyst that rates CNO Financial Group a buy, no analysts rate it a sell, and 4 rate it a hold.

TheStreet Ratings rates CNO Financial Group as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, increase in net income, revenue growth, attractive valuation levels and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full CNO Financial Group Ratings Report now.

Principal Financial Group

Owners of Principal Financial Group (NYSE: PFG) shares as of market close today will be eligible for a dividend of 23 cents per share. At a price of $32.65 as of 9:35 a.m. ET, the dividend yield is 2.9%.

The average volume for Principal Financial Group has been 1.8 million shares per day over the past 30 days. Principal Financial Group has a market cap of $9.4 billion and is part of the financial services industry. Shares are up 13.7% year to date as of the close of trading on Tuesday.

EXCLUSIVE OFFER: Jim Cramer's Protégé, Dave Peltier, only buys dividend stocks that have the potential for a 3% to 4% yield and 10% growth. Get his best picks for less than $50/year.

Principal Financial Group, Inc. provides retirement savings, investment, and insurance products and services. It operates in four segments: Retirement and Investor Services, Principal Global Investors, Principal International, and U.S. Insurance Solutions. The company has a P/E ratio of 12.41. Currently there are 5 analysts that rate Principal Financial Group a buy, 4 analysts rate it a sell, and 8 rate it a hold.

TheStreet Ratings rates Principal Financial Group as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, revenue growth, largely solid financial position with reasonable debt levels by most measures and attractive valuation levels. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Principal Financial Group Ratings Report now.

Ensco PLC Class A

Owners of Ensco PLC Class A (NYSE: ESV) shares as of market close today will be eligible for a dividend of 50 cents per share. At a price of $58.53 as of 9:37 a.m. ET, the dividend yield is 2.8%.

The average volume for Ensco PLC Class A has been 2.0 million shares per day over the past 30 days. Ensco PLC Class A has a market cap of $13.6 billion and is part of the energy industry. Shares are down 1.6% year to date as of the close of trading on Tuesday.

EXCLUSIVE OFFER: Jim Cramer's Protégé, Dave Peltier, only buys dividend stocks that have the potential for a 3% to 4% yield and 10% growth. Get his best picks for less than $50/year.

Ensco plc provides offshore contract drilling services to the oil and gas industry worldwide. The company has a P/E ratio of 11.15. Currently there are 17 analysts that rate Ensco PLC Class A a buy, no analysts rate it a sell, and 4 rate it a hold.

TheStreet Ratings rates Ensco PLC Class A 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, growth in earnings per share, expanding profit margins and good cash flow from operations. 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 Ensco PLC Class A Ratings Report now.

Eaton Corporation

Owners of Eaton Corporation (NYSE: ETN) shares as of market close today will be eligible for a dividend of 42 cents per share. At a price of $62.40 as of 9:36 a.m. ET, the dividend yield is 2.7%.

The average volume for Eaton Corporation has been 3.5 million shares per day over the past 30 days. Eaton Corporation has a market cap of $28.9 billion and is part of the industrial industry. Shares are up 14.7% year to date as of the close of trading on Tuesday.

EXCLUSIVE OFFER: Jim Cramer's Protégé, Dave Peltier, only buys dividend stocks that have the potential for a 3% to 4% yield and 10% growth. Get his best picks for less than $50/year.

Eaton Corporation operates as a diversified power management company worldwide. The company has a P/E ratio of 17.95. Currently there are 10 analysts that rate Eaton Corporation a buy, 1 analyst rates it a sell, and 4 rate it a hold.

TheStreet Ratings rates Eaton Corporation as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Eaton Corporation 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.

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

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