5 Stocks Going Ex-Dividend Tomorrow: AFT, TNH, CSL, HBI, PSX

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, May 16, 2013, 31 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.9% to 25%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

Apollo Senior Floating Rate Fund

Owners of Apollo Senior Floating Rate Fund (NYSE: AFT) shares as of market close today will be eligible for a dividend of 11 cents per share. At a price of $21.00 as of 9:35 a.m. ET, the dividend yield is 6%.

The average volume for Apollo Senior Floating Rate Fund has been 61,500 shares per day over the past 30 days. Apollo Senior Floating Rate Fund has a market cap of $324.2 million and is part of the financial services industry. Shares are up 11.5% 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.

You can view the full Apollo Senior Floating Rate Fund Ratings Report now.

Terra Nitrogen Company L.P

At a price of $225.58 as of 9:34 a.m. ET, the dividend yield is 8.4%.

The average volume for Terra Nitrogen Company L.P has been 19,300 shares per day over the past 30 days. Terra Nitrogen Company L.P has a market cap of $4.1 billion and is part of the chemicals industry. Shares are up 5.4% 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.

Terra Nitrogen Company, L.P. engages in the production and sale of nitrogen fertilizer products. It primarily offers anhydrous ammonia and urea ammonium nitrate solutions. Terra Nitrogen GP Inc. serves as the general partner of the company. Terra Nitrogen Company, L.P. The company has a P/E ratio of 12.21.

TheStreet Ratings rates Terra Nitrogen Company L.P 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, impressive record of earnings per share growth, expanding profit margins and increase in stock price during the past year. 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 Terra Nitrogen Company L.P Ratings Report now.

Carlisle Companies

Owners of Carlisle Companies (NYSE: CSL) shares as of market close today will be eligible for a dividend of 20 cents per share. At a price of $66.87 as of 9:34 a.m. ET, the dividend yield is 1.2%.

The average volume for Carlisle Companies has been 324,500 shares per day over the past 30 days. Carlisle Companies has a market cap of $4.2 billion and is part of the consumer non-durables industry. Shares are up 14.2% 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.

Carlisle Companies Incorporated operates as a diversified manufacturing company in the United States and internationally. The company has a P/E ratio of 16.18.

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

Hanesbrands

Owners of Hanesbrands (NYSE: HBI) shares as of market close today will be eligible for a dividend of 20 cents per share. At a price of $51.12 as of 9:36 a.m. ET, the dividend yield is 1.6%.

The average volume for Hanesbrands has been 1.3 million shares per day over the past 30 days. Hanesbrands has a market cap of $4.9 billion and is part of the consumer non-durables industry. Shares are up 41.9% 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.

Hanesbrands Inc., a consumer goods company, engages in designing, manufacturing, sourcing, and selling a range of basic apparel in the United States. The company has a P/E ratio of 16.20.

TheStreet Ratings rates Hanesbrands as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, compelling growth in net income, notable return on equity, reasonable valuation levels 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 Hanesbrands Ratings Report now.

Phillips 66

Owners of Phillips 66 (NYSE: PSX) shares as of market close today will be eligible for a dividend of 31 cents per share. At a price of $64.09 as of 9:37 a.m. ET, the dividend yield is 2%.

The average volume for Phillips 66 has been 4.6 million shares per day over the past 30 days. Phillips 66 has a market cap of $38.4 billion and is part of the energy industry. Shares are up 20.7% 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.

Phillips 66 operates as an independent downstream energy company. The company operates in three segments: Refining and Marketing (R&M), Midstream, and Chemicals. The company has a P/E ratio of 8.04.

TheStreet Ratings rates Phillips 66 as a hold. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we find that the company's profit margins have been poor overall. You can view the full Phillips 66 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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