4 Stocks Going Ex-Dividend Tomorrow: PGH, MTN, BEN, EQR

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 20, 2013, 8 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.8% 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:

Pengrowth Energy

Owners of Pengrowth Energy (NYSE: PGH) shares as of market close today will be eligible for a dividend of 4 cents per share. At a price of $5.10 as of 9:35 a.m. ET, the dividend yield is 9.3%.

The average volume for Pengrowth Energy has been 1.7 million shares per day over the past 30 days. Pengrowth Energy has a market cap of $2.6 billion and is part of the energy industry. Shares are up 2.2% 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.

Pengrowth Energy Corporation engages in the acquisition, exploration, development, and production of oil and natural gas reserves in Canada.

TheStreet Ratings rates Pengrowth Energy as a hold. 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 and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity. You can view the full Pengrowth Energy Ratings Report now.

Vail Resorts

Owners of Vail Resorts (NYSE: MTN) shares as of market close today will be eligible for a dividend of 21 cents per share. At a price of $64.09 as of 9:35 a.m. ET, the dividend yield is 1.3%.

The average volume for Vail Resorts has been 218,700 shares per day over the past 30 days. Vail Resorts has a market cap of $2.3 billion and is part of the leisure industry. Shares are up 18.8% 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.

Vail Resorts, Inc., through its subsidiaries, engages in the operation of resorts in the United States. The company operates in three segments: Mountain, Lodging, and Real Estate. The company has a P/E ratio of 53.18.

TheStreet Ratings rates Vail Resorts 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, expanding profit margins, good cash flow from operations and compelling growth in net income. 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 Vail Resorts Ratings Report now.

Franklin Resources

Owners of Franklin Resources (NYSE: BEN) shares as of market close today will be eligible for a dividend of 29 cents per share. At a price of $149.00 as of 9:35 a.m. ET, the dividend yield is 0.8%.

The average volume for Franklin Resources has been 728,500 shares per day over the past 30 days. Franklin Resources has a market cap of $31.3 billion and is part of the financial services industry. Shares are up 20.1% 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.

Franklin Resources Inc. is a publicly owned asset management holding company. The firm provides its services to individuals, institutions, pension plans, trusts, and partnerships. It manages, through its subsidiary, separate client-focused equity, fixed income, and balanced portfolios. The company has a P/E ratio of 15.45.

TheStreet Ratings rates Franklin Resources as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, growth in earnings per share, increase in net income and expanding profit margins. 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 Franklin Resources Ratings Report now.

Equity Residential

Owners of Equity Residential (NYSE: EQR) shares as of market close today will be eligible for a dividend of 40 cents per share. At a price of $56.51 as of 9:36 a.m. ET, the dividend yield is 2.8%.

The average volume for Equity Residential has been 2.3 million shares per day over the past 30 days. Equity Residential has a market cap of $20.3 billion and is part of the real estate industry. Shares are down 0.1% 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.

Equity Residential, a real estate investment trust (REIT), engages in the acquisition, development, and management of multifamily properties in the United States. The company has a P/E ratio of 102.56.

TheStreet Ratings rates Equity Residential as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, compelling growth in net income and notable return on equity. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, weak operating cash flow and poor profit margins. You can view the full Equity Residential 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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