3 Stocks Going Ex-Dividend Tomorrow: BNS, TWO, A

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 28, 2013, 6 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 1.2% to 9.3%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

Bank of Nova Scotia

Owners of Bank of Nova Scotia (NYSE: BNS) shares as of market close today will be eligible for a dividend of 58 cents per share. At a price of $58.35 as of 9:35 a.m. ET, the dividend yield is 4%.

The average volume for Bank of Nova Scotia has been 430,500 shares per day over the past 30 days. Bank of Nova Scotia has a market cap of $69.4 billion and is part of the banking industry. Shares are up 1.2% year to date as of the close of trading on Tuesday.

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The company has a P/E ratio of 11.01. Currently there are 7 analysts that rate Bank of Nova Scotia a buy, no analysts rate it a sell, and 2 rate it a hold.

You can view the full Bank of Nova Scotia Ratings Report now.

Two Harbors Investment

Owners of Two Harbors Investment (NYSE: TWO) shares as of market close today will be eligible for a dividend of 32 cents per share. At a price of $13.85 as of 9:36 a.m. ET, the dividend yield is 9.3%.

The average volume for Two Harbors Investment has been 6.3 million shares per day over the past 30 days. Two Harbors Investment has a market cap of $4.1 billion and is part of the real estate industry. Shares are up 25.9% 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.

Two Harbors Investment Corp. operates as a real estate investment trust (REIT) that focuses on investing in, financing, and managing residential mortgage-backed securities (RMBS), residential mortgage loans, and other financial assets. The company has a P/E ratio of 11.64. Currently there are 7 analysts that rate Two Harbors Investment a buy, no analysts rate it a sell, and 3 rate it a hold.

TheStreet Ratings rates Two Harbors Investment 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, compelling growth in net income 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 Two Harbors Investment Ratings Report now.

Agilent Technologies

Owners of Agilent Technologies (NYSE: A) shares as of market close today will be eligible for a dividend of 12 cents per share. At a price of $41.26 as of 9:35 a.m. ET, the dividend yield is 1.2%.

The average volume for Agilent Technologies has been 3.5 million shares per day over the past 30 days. Agilent Technologies has a market cap of $14.3 billion and is part of the health services industry. Shares are up 2.1% 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.

Agilent Technologies, Inc. provides bio-analytical and electronic measurement solutions and services to the life sciences, chemical analysis, diagnostics and genomics, communications, and electronics industries worldwide. The company has a P/E ratio of 13.14. Currently there are 14 analysts that rate Agilent Technologies a buy, no analysts rate it a sell, and none rate it a hold.

TheStreet Ratings rates Agilent Technologies 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, reasonable valuation levels, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Agilent Technologies 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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