4 Stocks Going Ex-Dividend Tomorrow: CNO, VFC, WLP, CBS

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, June 6, 2013, 17 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.8% to 5.2%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

CNO Financial Group

Owners of CNO Financial Group (NYSE: CNO) shares as of market close today will be eligible for a dividend of 3 cents per share. At a price of $12.34 as of 9:35 a.m. ET, the dividend yield is 1%.

The average volume for CNO Financial Group has been 1.8 million shares per day over the past 30 days. CNO Financial Group has a market cap of $2.8 billion and is part of the insurance industry. Shares are up 32.3% year to date as of the close of trading on Tuesday.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

CNO Financial Group, Inc., through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, and other insurance products for senior and middle-income markets in the United States. The company has a P/E ratio of 18.64.

TheStreet Ratings rates CNO Financial Group as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, solid stock price performance, largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full CNO Financial Group Ratings Report now.

VF Corporation

Owners of VF Corporation (NYSE: VFC) shares as of market close today will be eligible for a dividend of 87 cents per share. At a price of $186.08 as of 9:35 a.m. ET, the dividend yield is 1.9%.

The average volume for VF Corporation has been 544,300 shares per day over the past 30 days. VF Corporation has a market cap of $20.3 billion and is part of the consumer non-durables industry. Shares are up 23.6% year to date as of the close of trading on Tuesday.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

V.F. Corporation designs and manufactures, or sources from independent contractors various apparel and footwear products primarily in the United States and Europe. The company has a P/E ratio of 18.20.

TheStreet Ratings rates VF Corporation 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, revenue growth and reasonable valuation levels. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full VF Corporation Ratings Report now.

WellPoint

Owners of WellPoint (NYSE: WLP) shares as of market close today will be eligible for a dividend of 38 cents per share. At a price of $76.92 as of 9:35 a.m. ET, the dividend yield is 1.9%.

The average volume for WellPoint has been 1.9 million shares per day over the past 30 days. WellPoint has a market cap of $23.3 billion and is part of the health services industry. Shares are up 27.1% year to date as of the close of trading on Tuesday.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

WellPoint, Inc., a health benefits company, through its subsidiaries, offers network-based managed care plans to large and small employer, individual, Medicaid, and senior markets in the United States. The company operates through three segments: Commercial, Consumer, and Other. The company has a P/E ratio of 9.07.

TheStreet Ratings rates WellPoint 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, increase in net income, attractive valuation levels and increase in stock price during the past year. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full WellPoint Ratings Report now.

CBS Corporation

Owners of CBS Corporation (NYSE: CBS) shares as of market close today will be eligible for a dividend of 12 cents per share. At a price of $48.91 as of 9:36 a.m. ET, the dividend yield is 1%.

The average volume for CBS Corporation has been 6.1 million shares per day over the past 30 days. CBS Corporation has a market cap of $28.4 billion and is part of the media industry. Shares are up 29% year to date as of the close of trading on Tuesday.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

CBS Corporation, together with its subsidiaries, operates as a mass media company in the United States and internationally. The company has a P/E ratio of 18.93.

TheStreet Ratings rates CBS Corporation 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, notable return on equity, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. 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 CBS Corporation 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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