4 Stocks Going Ex-Dividend Tomorrow: PNY, CIB, NVO, SWY

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 21, 2013, 13 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 1.4% to 10.5%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

Piedmont Natural Gas Company

Owners of Piedmont Natural Gas Company (NYSE: PNY) shares as of market close today will be eligible for a dividend of 31 cents per share. At a price of $33.40 as of 9:35 a.m. ET, the dividend yield is 3.7%.

The average volume for Piedmont Natural Gas Company has been 405,800 shares per day over the past 30 days. Piedmont Natural Gas Company has a market cap of $2.5 billion and is part of the utilities industry. Shares are up 6.3% 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.

Piedmont Natural Gas Company, Inc., an energy services company, engages in the distribution of natural gas to residential, commercial, industrial, and power generation customers in portions of North Carolina, South Carolina, and Tennessee. The company has a P/E ratio of 18.57. Currently there are 2 analysts that rate Piedmont Natural Gas Company a buy, 2 analysts rate it a sell, and 3 rate it a hold.

TheStreet Ratings rates Piedmont Natural Gas Company as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, increase in net income, notable return on equity and increase in stock price during the past year. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Piedmont Natural Gas Company Ratings Report now.

BanColombia

Owners of BanColombia (NYSE: CIB) shares as of market close today will be eligible for a dividend of 42 cents per share. At a price of $63.46 as of 9:35 a.m. ET, the dividend yield is 2.6%.

The average volume for BanColombia has been 297,400 shares per day over the past 30 days. BanColombia has a market cap of $8.1 billion and is part of the banking industry. Shares are down 4.5% 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.

Bancolombia S.A. provides various financial products and services to individual and corporate customers in Colombia, as well as in Panama, El Salvador, Puerto Rico, the Cayman Islands, Peru, Brazil, the United States, and Spain. The company has a P/E ratio of 11.21. Currently there is 1 analyst that rates BanColombia a buy, 3 analysts rate it a sell, and 3 rate it a hold.

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

Novo Nordisk A/S

Owners of Novo Nordisk A/S (NYSE: NVO) shares as of market close today will be eligible for a dividend of per share. At a price of $167.11 as of 9:35 a.m. ET, the dividend yield is 1.4%.

The average volume for Novo Nordisk A/S has been 339,900 shares per day over the past 30 days. Novo Nordisk A/S has a market cap of $93.2 billion and is part of the drugs industry. Shares are up 2.2% 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.

Novo Nordisk A/S engages in the discovery, development, manufacture, and marketing of pharmaceutical products primarily in Denmark. It operates in two segments, Diabetes Care and Biopharmaceuticals. The company has a P/E ratio of 4.04. Currently there are 2 analysts that rate Novo Nordisk A/S a buy, 2 analysts rate it a sell, and 1 rates it a hold.

TheStreet Ratings rates Novo Nordisk A/S as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, expanding profit margins and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. You can view the full Novo Nordisk A/S Ratings Report now.

Safeway

Owners of Safeway (NYSE: SWY) shares as of market close today will be eligible for a dividend of 18 cents per share. At a price of $25.06 as of 9:35 a.m. ET, the dividend yield is 2.8%.

The average volume for Safeway has been 6.2 million shares per day over the past 30 days. Safeway has a market cap of $6.0 billion and is part of the retail industry. Shares are up 37.6% 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.

Safeway Inc., together with its subsidiaries, operates as a food and drug retailer in North America. The company has a P/E ratio of 10.94. Currently there are 4 analysts that rate Safeway a buy, 3 analysts rate it a sell, and 7 rate it a hold.

TheStreet Ratings rates Safeway 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, increase in net income, revenue growth and notable return on equity. We feel these 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 Safeway 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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