5 Stocks Going Ex-Dividend Tomorrow: TCRD, PB, BRE, TXT, DVN

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 13, 2013, 88 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.2% to 15.8%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

THL Credit

Owners of THL Credit (NASDAQ: TCRD) shares as of market close today will be eligible for a dividend of 33 cents per share. At a price of $15.47 as of 9:34 a.m. ET, the dividend yield is 8.6%.

The average volume for THL Credit has been 189,900 shares per day over the past 30 days. THL Credit has a market cap of $402.1 million and is part of the financial services industry. Shares are up 4.9% year to date as of the close of trading on Monday.

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THL Credit, Inc. is a private equity and mezzanine firm specializing in mature, bridge, PIPES, industry consolidation, acquisition, recapitalization, change of control transactions, and growth capital investments in both sponsored and unsponsored middle-market companies. The company has a P/E ratio of 11.07. Currently there are 4 analysts that rate THL Credit a buy, no analysts rate it a sell, and 1 rates it a hold.

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

Prosperity

Owners of Prosperity (NYSE: PB) shares as of market close today will be eligible for a dividend of 22 cents per share. At a price of $46.81 as of 9:35 a.m. ET, the dividend yield is 1.8%.

The average volume for Prosperity has been 304,500 shares per day over the past 30 days. Prosperity has a market cap of $2.7 billion and is part of the banking industry. Shares are up 11.6% year to date as of the close of trading on Monday.

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.

Prosperity Bancshares, Inc. operates as the holding company for Prosperity Bank that provides a range of financial products and services to small and medium-sized businesses, and consumers in Texas. The company has a P/E ratio of 14.47. Currently there are 6 analysts that rate Prosperity a buy, 2 analysts rate it a sell, and 9 rate it a hold.

TheStreet Ratings rates Prosperity as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, growth in earnings per share, compelling growth in net income, expanding profit margins and attractive valuation levels. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full Prosperity Ratings Report now.

BRE Properties

Owners of BRE Properties (NYSE: BRE) shares as of market close today will be eligible for a dividend of 40 cents per share. At a price of $48.67 as of 9:34 a.m. ET, the dividend yield is 3.2%.

The average volume for BRE Properties has been 718,000 shares per day over the past 30 days. BRE Properties has a market cap of $3.8 billion and is part of the real estate industry. Shares are down 4.1% year to date as of the close of trading on Monday.

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.

BRE Properties Inc. is an independent real estate investment trust. The firm invests in the real estate markets of the United States. It focuses on the development, acquisition, and management of multifamily apartment communities. BRE Properties Inc. The company has a P/E ratio of 28.29. Currently there are 4 analysts that rate BRE Properties a buy, 2 analysts rate it a sell, and 6 rate it a hold.

TheStreet Ratings rates BRE Properties as a buy. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, compelling growth in net income, revenue growth, expanding profit margins and good cash flow from operations. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full BRE Properties Ratings Report now.

Textron

Owners of Textron (NYSE: TXT) shares as of market close today will be eligible for a dividend of 2 cents per share. At a price of $30.60 as of 9:35 a.m. ET, the dividend yield is 0.3%.

The average volume for Textron has been 2.7 million shares per day over the past 30 days. Textron has a market cap of $8.3 billion and is part of the aerospace/defense industry. Shares are up 23.8% year to date as of the close of trading on Monday.

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.

Textron Inc. operates in the aircraft, defense, industrial, and finance businesses worldwide. It operates in five segments: Cessna, Bell, Textron Systems, Industrial, and Finance. The company has a P/E ratio of 15.43. Currently there are 8 analysts that rate Textron a buy, no analysts rate it a sell, and 2 rate it a hold.

TheStreet Ratings rates Textron as a buy. The company's strengths can be seen in multiple areas, such as its increase in stock price during the past year, impressive record of earnings per share growth, compelling growth in net income, revenue growth and attractive valuation levels. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full Textron Ratings Report now.

Devon Energy

Owners of Devon Energy (NYSE: DVN) shares as of market close today will be eligible for a dividend of 20 cents per share. At a price of $55.93 as of 9:36 a.m. ET, the dividend yield is 1.6%.

The average volume for Devon Energy has been 3.8 million shares per day over the past 30 days. Devon Energy has a market cap of $22.8 billion and is part of the energy industry. Shares are up 7.5% year to date as of the close of trading on Monday.

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.

Devon Energy Corporation, an independent energy company, engages primarily in exploration, development, and production of oil, natural gas, and natural gas liquids (NGLs). Currently there are 12 analysts that rate Devon Energy a buy, no analysts rate it a sell, and 10 rate it a hold.

TheStreet Ratings rates Devon Energy as a hold. Among the primary strengths of the company is its solid financial position based on a variety of debt and liquidity measures that we have evaluated. At the same time, however, we also find weaknesses including deteriorating net income, disappointing return on equity and poor profit margins. You can view the full Devon Energy 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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