Tomorrow's Ex-Dividends To Watch: AFT, SPB, TKR, BG, WAG

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. 16, 2013, 17 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.3% 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:

Apollo Senior Floating Rate Fund

Owners of Apollo Senior Floating Rate Fund (NYSE: AFT) shares as of market close today will be eligible for a dividend of 11 cents per share. At a price of $18.52 as of 9:34 a.m. ET, the dividend yield is 6.7%.

The average volume for Apollo Senior Floating Rate Fund has been 50,100 shares per day over the past 30 days. Apollo Senior Floating Rate Fund has a market cap of $290.6 million and is part of the financial services industry. Shares are down 0.3% year to date as of the close of trading on Wednesday.

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

• See our top-yielding stocks list.

Spectrum Brands Holdings

Owners of Spectrum Brands Holdings (NYSE: SPB) shares as of market close today will be eligible for a dividend of 25 cents per share. At a price of $63.48 as of 9:34 a.m. ET, the dividend yield is 1.5%.

The average volume for Spectrum Brands Holdings has been 243,000 shares per day over the past 30 days. Spectrum Brands Holdings has a market cap of $3.4 billion and is part of the consumer durables industry. Shares are up 42.3% year to date as of the close of trading on Wednesday.

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

Spectrum Brands Holdings, Inc., together with its subsidiaries, operates as a consumer products company worldwide.

TheStreet Ratings rates Spectrum Brands Holdings as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk and unimpressive growth in net income. You can view the full Spectrum Brands Holdings Ratings Report now.

• See our top-yielding stocks list.

Timken Company

Owners of Timken Company (NYSE: TKR) shares as of market close today will be eligible for a dividend of 23 cents per share. At a price of $59.19 as of 9:36 a.m. ET, the dividend yield is 1.5%.

The average volume for Timken Company has been 676,000 shares per day over the past 30 days. Timken Company has a market cap of $5.8 billion and is part of the industrial industry. Shares are up 25.7% year to date as of the close of trading on Wednesday.

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

The Timken Company engineers, manufactures, and markets mechanical components and high-performance steel products worldwide. It operates through four segments: Mobile Industries, Process Industries, Aerospace and Defense, and Steel. The company has a P/E ratio of 18.65.

TheStreet Ratings rates Timken Company as a buy. 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 reasonable valuation levels. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Timken Company Ratings Report now.

• See our top-yielding stocks list.

Bunge

Owners of Bunge (NYSE: BG) shares as of market close today will be eligible for a dividend of 30 cents per share. At a price of $77.58 as of 9:35 a.m. ET, the dividend yield is 1.5%.

The average volume for Bunge has been 783,200 shares per day over the past 30 days. Bunge has a market cap of $11.5 billion and is part of the food & beverage industry. Shares are up 7.6% year to date as of the close of trading on Wednesday.

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

Bunge Limited, through its subsidiaries, engages in agriculture and food business worldwide. The company has a P/E ratio of 40.76.

TheStreet Ratings rates Bunge as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Bunge Ratings Report now.

• See our top-yielding stocks list.

Walgreen Company

Owners of Walgreen Company (NYSE: WAG) shares as of market close today will be eligible for a dividend of 32 cents per share. At a price of $50.09 as of 9:35 a.m. ET, the dividend yield is 2.5%.

The average volume for Walgreen Company has been 5.9 million shares per day over the past 30 days. Walgreen Company has a market cap of $47.8 billion and is part of the retail industry. Shares are up 36.3% year to date as of the close of trading on Wednesday.

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

Walgreen Co., together with its subsidiaries, operates a network of drugstores in the United States. It provides consumer goods and services, pharmacy, and health and wellness services through drugstores, as well as through mail, and by telephone and online. The company has a P/E ratio of 22.26.

TheStreet Ratings rates Walgreen Company as a buy. The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full Walgreen Company Ratings Report now.

• See our top-yielding stocks list.

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.

• See our dividend calendar.