4 Stocks Going Ex-Dividend Tomorrow: HCAP, PDCO, WDR, AET

Tomorrow, July 9, 2013, 8 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 1.3% to 8.9%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

Harvest Capital Credit

Owners of Harvest Capital Credit (NASDAQ: HCAP) shares as of market close today will be eligible for a dividend of 11 cents per share. At a price of $15.19 as of 9:30 a.m. ET, the dividend yield is 8.9%.

The average volume for Harvest Capital Credit has been 31,100 shares per day over the past 30 days. Harvest Capital Credit has a market cap of $91.8 million and is part of the financial services industry. Shares are unchanged year to date as of the close of trading on Friday.

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You can view the full Harvest Capital Credit Ratings Report now.

Patterson Companies

Owners of Patterson Companies (NASDAQ: PDCO) shares as of market close today will be eligible for a dividend of 16 cents per share. At a price of $38.05 as of 9:35 a.m. ET, the dividend yield is 1.7%.

The average volume for Patterson Companies has been 685,300 shares per day over the past 30 days. Patterson Companies has a market cap of $4.0 billion and is part of the wholesale industry. Shares are up 10.9% year to date as of the close of trading on Friday.

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

Patterson Companies, Inc. distributes dental, veterinary, and rehabilitation supplies. The company has a P/E ratio of 18.59.

TheStreet Ratings rates Patterson Companies as a buy. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, increase in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full Patterson Companies Ratings Report now.

Waddell & Reed Financial

Owners of Waddell & Reed Financial (NYSE: WDR) shares as of market close today will be eligible for a dividend of 28 cents per share. At a price of $45.40 as of 9:33 a.m. ET, the dividend yield is 2.5%.

The average volume for Waddell & Reed Financial has been 802,000 shares per day over the past 30 days. Waddell & Reed Financial has a market cap of $3.8 billion and is part of the financial services industry. Shares are up 29.8% year to date as of the close of trading on Friday.

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

Waddell & Reed Financial, Inc., through its subsidiaries, provides investment management, investment product underwriting and distribution, and shareholder services administration to mutual funds, and institutional and separately managed accounts in the United States. The company has a P/E ratio of 18.97.

TheStreet Ratings rates Waddell & Reed Financial as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, solid stock price performance, growth in earnings per share and increase in net income. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full Waddell & Reed Financial Ratings Report now.

Aetna

Owners of Aetna (NYSE: AET) shares as of market close today will be eligible for a dividend of 20 cents per share. At a price of $62.98 as of 9:36 a.m. ET, the dividend yield is 1.3%.

The average volume for Aetna has been 3.0 million shares per day over the past 30 days. Aetna has a market cap of $20.2 billion and is part of the health services industry. Shares are up 35.1% year to date as of the close of trading on Friday.

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

Aetna Inc. operates as a diversified health care benefits company in the United States. The company operates in three segments: Health Care, Group Insurance, and Large Case Pensions. The company has a P/E ratio of 12.78.

TheStreet Ratings rates Aetna as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth, attractive valuation levels, largely solid financial position with reasonable debt levels by most measures and growth in earnings per share. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Aetna 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.

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