4 Stocks Going Ex-Dividend Tomorrow: OZM, LNCO, HCBK, PPG

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. 8, 2013, 26 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 1.1% to 11.3%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

Och-Ziff Capital Management Group

Owners of Och-Ziff Capital Management Group (NYSE: OZM) shares as of market close today will be eligible for a dividend of 14 cents per share. At a price of $11.24 as of 9:36 a.m. ET, the dividend yield is 11.2%.

The average volume for Och-Ziff Capital Management Group has been 982,300 shares per day over the past 30 days. Och-Ziff Capital Management Group has a market cap of $1.7 billion and is part of the financial services industry. Shares are up 18.4% 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.

Och-Ziff Capital Management Group LLC is a publicly owned investment manager. The firm provides investment advisory services for its clients. It invests in equity markets across the world. The firm makes its investments in alternative markets across the world.

TheStreet Ratings rates Och-Ziff Capital Management Group as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the company's profit margins have been poor overall. You can view the full Och-Ziff Capital Management Group Ratings Report now.

LinnCo

Owners of LinnCo (NASDAQ: LNCO) shares as of market close today will be eligible for a dividend of 24 cents per share. At a price of $29.32 as of 9:36 a.m. ET, the dividend yield is 9.8%.

The average volume for LinnCo has been 843,500 shares per day over the past 30 days. LinnCo has a market cap of $1.0 billion and is part of the energy industry. Shares are down 18.4% 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.

Hudson City Bancorp

Owners of Hudson City Bancorp (NASDAQ: HCBK) shares as of market close today will be eligible for a dividend of 4 cents per share. At a price of $9.61 as of 9:36 a.m. ET, the dividend yield is 1.6%.

The average volume for Hudson City Bancorp has been 3.7 million shares per day over the past 30 days. Hudson City Bancorp has a market cap of $5.1 billion and is part of the banking industry. Shares are up 19.6% 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.

Hudson City Bancorp, Inc. operates as the holding company of Hudson City Savings Bank that provides various banking products and services in the United States. The company has a P/E ratio of 24.30.

TheStreet Ratings rates Hudson City Bancorp as a hold. The company's strengths can be seen in multiple areas, such as its solid stock price performance, reasonable valuation levels and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income and feeble growth in the company's earnings per share. You can view the full Hudson City Bancorp Ratings Report now.

PPG Industries

Owners of PPG Industries (NYSE: PPG) shares as of market close today will be eligible for a dividend of 61 cents per share. At a price of $161.25 as of 9:36 a.m. ET, the dividend yield is 1.5%.

The average volume for PPG Industries has been 672,400 shares per day over the past 30 days. PPG Industries has a market cap of $23.1 billion and is part of the chemicals industry. Shares are up 19.3% 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.

PPG Industries, Inc. operates as a coatings and specialty products company. The company has a P/E ratio of 19.55.

TheStreet Ratings rates PPG Industries 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, solid stock price performance, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full PPG Industries 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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