Ex-Dividend Alert: 5 Stocks Going Ex-Dividend Tomorrow: ALDW, OAK, TLM, KLAC, PSX

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. 14, 2013, 48 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.1% to 18.2%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

Alon USA Partners

Owners of Alon USA Partners (NYSE: ALDW) shares as of market close today will be eligible for a dividend of 71 cents per share. At a price of $19.84 as of 9:35 a.m. ET, the dividend yield is 14.2%.

The average volume for Alon USA Partners has been 327,500 shares per day over the past 30 days. Alon USA Partners has a market cap of $1.3 billion and is part of the energy industry. Shares are down 17.7% year to date as of the close of trading on Monday.

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The company has a P/E ratio of 34.02.

Oaktree Capital Group

At a price of $54.52 as of 9:36 a.m. ET, the dividend yield is 11%.

The average volume for Oaktree Capital Group has been 390,100 shares per day over the past 30 days. Oaktree Capital Group has a market cap of $1.7 billion and is part of the financial services industry. Shares are up 20.4% year to date as of the close of trading on Monday.

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Oaktree Capital Group, LLC operates as a global investment management firm that focuses on alternative markets. The company has a P/E ratio of 10.30.

TheStreet Ratings rates Oaktree Capital Group as a sell. The area that we feel has been the company's primary weakness has been its poor profit margins. You can view the full Oaktree Capital Group Ratings Report now.

Talisman Energy

Owners of Talisman Energy (NYSE: TLM) shares as of market close today will be eligible for a dividend of 7 cents per share. At a price of $11.03 as of 9:35 a.m. ET, the dividend yield is 2.4%.

The average volume for Talisman Energy has been 3.8 million shares per day over the past 30 days. Talisman Energy has a market cap of $11.6 billion and is part of the energy industry. Shares are down 2.2% year to date as of the close of trading on Monday.

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Talisman Energy Inc., an upstream oil and gas company, engages in the exploration, development, production, transportation, and marketing of crude oil, natural gas, and natural gas liquids.

TheStreet Ratings rates Talisman Energy as a sell. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity, weak operating cash flow and generally high debt management risk. You can view the full Talisman Energy Ratings Report now.

KLA-Tencor Corporation

Owners of KLA-Tencor Corporation (NASDAQ: KLAC) shares as of market close today will be eligible for a dividend of 45 cents per share. At a price of $58.79 as of 9:35 a.m. ET, the dividend yield is 3.1%.

The average volume for KLA-Tencor Corporation has been 1.7 million shares per day over the past 30 days. KLA-Tencor Corporation has a market cap of $9.6 billion and is part of the electronics industry. Shares are up 20.8% year to date as of the close of trading on Monday.

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KLA-Tencor Corporation designs, manufactures, and markets process control and yield management solutions for the semiconductor and related nanoelectronics industries. The company has a P/E ratio of 17.98.

TheStreet Ratings rates KLA-Tencor Corporation as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, increase in stock price during the past year, expanding profit margins 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 KLA-Tencor Corporation Ratings Report now.

Phillips 66

Owners of Phillips 66 (NYSE: PSX) shares as of market close today will be eligible for a dividend of 31 cents per share. At a price of $58.34 as of 9:36 a.m. ET, the dividend yield is 2.1%.

The average volume for Phillips 66 has been 4.0 million shares per day over the past 30 days. Phillips 66 has a market cap of $36.5 billion and is part of the energy industry. Shares are up 9.5% year to date as of the close of trading on Monday.

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Phillips 66 operates as an independent downstream energy company. The company operates in three segments: Refining and Marketing (R&M), Midstream, and Chemicals. The company has a P/E ratio of 7.98.

TheStreet Ratings rates Phillips 66 as a hold. The company's strengths can be seen in multiple areas, such as its solid stock price performance, largely solid financial position with reasonable debt levels by most measures and notable return on equity. However, as a counter to these strengths, we also find weaknesses including poor profit margins and weak operating cash flow. You can view the full Phillips 66 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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