5 Stocks Going Ex-Dividend Tomorrow: OLN, UL, GSK, DAL, WFC

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Tomorrow, Aug. 7, 2013, 32 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.6% to 7.3%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

Olin Corporation

Owners of Olin Corporation (NYSE: OLN) shares as of market close today will be eligible for a dividend of 20 cents per share. At a price of $24.70 as of 9:35 a.m. ET, the dividend yield is 3.2%.

The average volume for Olin Corporation has been 623,400 shares per day over the past 30 days. Olin Corporation has a market cap of $2.0 billion and is part of the chemicals industry. Shares are up 14.7% year to date as of the close of trading on Monday.

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Olin Corporation manufactures and sells chlor alkali products in the United States and internationally. It operates in three segments, Chlor Alkali Products, Chemical Distribution, and Winchester. The company has a P/E ratio of 13.76.

TheStreet Ratings rates Olin Corporation 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, attractive valuation levels, good cash flow from operations 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 Olin Corporation Ratings Report now.

Unilever

Owners of Unilever (NYSE: UL) shares as of market close today will be eligible for a dividend of 35 cents per share. At a price of $41.14 as of 9:35 a.m. ET, the dividend yield is 3.2%.

The average volume for Unilever has been 964,200 shares per day over the past 30 days. Unilever has a market cap of $125.2 billion and is part of the consumer non-durables industry. Shares are up 7.1% year to date as of the close of trading on Monday.

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The company has a P/E ratio of 30.43.

GlaxoSmithKline

Owners of GlaxoSmithKline (NYSE: GSK) shares as of market close today will be eligible for a dividend of 55 cents per share. At a price of $52.08 as of 9:35 a.m. ET, the dividend yield is 4.5%.

The average volume for GlaxoSmithKline has been 2.3 million shares per day over the past 30 days. GlaxoSmithKline has a market cap of $128.4 billion and is part of the drugs industry. Shares are up 19.9% year to date as of the close of trading on Monday.

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

GlaxoSmithKline plc, together with its subsidiaries, discovers, develops, manufactures, and markets pharmaceutical products, over-the-counter medicines, and health-related consumer products worldwide. The company has a P/E ratio of 15.73.

TheStreet Ratings rates GlaxoSmithKline as a buy. The company's strengths can be seen in multiple areas, such as its expanding profit margins, increase in stock price during the past year 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 GlaxoSmithKline Ratings Report now.

Delta Air Lines

Owners of Delta Air Lines (NYSE: DAL) shares as of market close today will be eligible for a dividend of 6 cents per share. At a price of $21.73 as of 9:35 a.m. ET, the dividend yield is 1.1%.

The average volume for Delta Air Lines has been 9.8 million shares per day over the past 30 days. Delta Air Lines has a market cap of $18.8 billion and is part of the transportation industry. Shares are up 82.9% year to date as of the close of trading on Monday.

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

Delta Air Lines, Inc. provides scheduled air transportation for passengers and cargo in the United States and internationally. Its route network is centered around a system of hub and international gateway airports in Amsterdam, Atlanta, Cincinnati, Detroit, Memphis, Minneapolis-St. The company has a P/E ratio of 10.66.

TheStreet Ratings rates Delta Air Lines 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 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 Delta Air Lines Ratings Report now.

Wells Fargo

Owners of Wells Fargo (NYSE: WFC) shares as of market close today will be eligible for a dividend of 30 cents per share. At a price of $44.29 as of 9:35 a.m. ET, the dividend yield is 2.7%.

The average volume for Wells Fargo has been 21.3 million shares per day over the past 30 days. Wells Fargo has a market cap of $235.6 billion and is part of the banking industry. Shares are up 29.7% year to date as of the close of trading on Monday.

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

Wells Fargo & Company provides retail, commercial, and corporate banking services. The company has a P/E ratio of 12.06.

TheStreet Ratings rates Wells Fargo 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, expanding profit margins, notable return on equity and compelling growth in net income. 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 Wells Fargo 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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