3 Stocks Going Ex-Dividend Tomorrow: CODI, WNR, CL

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, April 19, 2013, 6 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 1.6% to 8.6%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

Compass Diversified Holdings Shares of Bene

Owners of Compass Diversified Holdings Shares of Bene (NYSE: CODI) shares as of market close today will be eligible for a dividend of 36 cents per share. At a price of $16.80 as of 9:34 a.m. ET, the dividend yield is 8.6%.

The average volume for Compass Diversified Holdings Shares of Bene has been 152,300 shares per day over the past 30 days. Compass Diversified Holdings Shares of Bene has a market cap of $811.4 million and is part of the diversified services industry. Shares are up 14.3% year to date as of the close of trading on Wednesday.

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Compass Diversified Holdings is a public investment firm specializing in acquiring controlling stakes in small to middle market companies. The firm seeks to make middle market and buyout investments.

TheStreet Ratings rates Compass Diversified Holdings Shares of Bene 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, increase in stock price during the past year, impressive record of earnings per share growth and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Compass Diversified Holdings Shares of Bene Ratings Report now.

Western Refining

Owners of Western Refining (NYSE: WNR) shares as of market close today will be eligible for a dividend of 12 cents per share. At a price of $30.23 as of 9:36 a.m. ET, the dividend yield is 1.6%.

The average volume for Western Refining has been 2.1 million shares per day over the past 30 days. Western Refining has a market cap of $2.7 billion and is part of the energy industry. Shares are up 6.4% year to date as of the close of trading on Wednesday.

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Western Refining, Inc. operates as an independent crude oil refiner and marketer of refined products. It operates in three segments: Refining, Wholesale, and Retail. The company has a P/E ratio of 8.23.

TheStreet Ratings rates Western Refining 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, compelling growth in net income, notable return on equity and attractive valuation levels. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full Western Refining Ratings Report now.

Colgate-Palmolive Company

Owners of Colgate-Palmolive Company (NYSE: CL) shares as of market close today will be eligible for a dividend of 68 cents per share. At a price of $118.56 as of 9:36 a.m. ET, the dividend yield is 2.3%.

The average volume for Colgate-Palmolive Company has been 1.8 million shares per day over the past 30 days. Colgate-Palmolive Company has a market cap of $55.7 billion and is part of the consumer non-durables industry. Shares are up 12.7% year to date as of the close of trading on Wednesday.

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.

Colgate-Palmolive Company, together with its subsidiaries, manufactures and markets consumer products worldwide. The company operates in two segments: Oral, Personal and Home Care; and Pet Nutrition. The company has a P/E ratio of 23.17.

TheStreet Ratings rates Colgate-Palmolive Company as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, good cash flow from operations, growth in earnings per share and expanding profit margins. 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 Colgate-Palmolive Company 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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