4 Stocks Going Ex-Dividend Tomorrow: ISIL, MFC, RMD, TEVA

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:

Intersil Corporation

Owners of Intersil Corporation (NASDAQ: ISIL) shares as of market close today will be eligible for a dividend of 12 cents per share. At a price of $10.66 as of 9:35 a.m. ET, the dividend yield is 4.4%.

The average volume for Intersil Corporation has been 1.2 million shares per day over the past 30 days. Intersil Corporation has a market cap of $1.4 billion and is part of the electronics industry. Shares are up 32.3% year to date as of the close of trading on Wednesday.

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Intersil Corporation designs, develops, manufactures, and markets analog, mixed-signal, and power management integrated circuits (ICs) for applications in the industrial and infrastructure, personal computing, and consumer electronics markets.

TheStreet Ratings rates Intersil Corporation as a hold. The company's strengths can be seen in multiple areas, such as its increase in stock price during the past year, increase in net income and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we find that the company's return on equity has been disappointing. You can view the full Intersil Corporation Ratings Report now.

Manulife Financial Corporation

Owners of Manulife Financial Corporation (NYSE: MFC) shares as of market close today will be eligible for a dividend of 12 cents per share. At a price of $17.10 as of 9:36 a.m. ET, the dividend yield is 2.9%.

The average volume for Manulife Financial Corporation has been 2.1 million shares per day over the past 30 days. Manulife Financial Corporation has a market cap of $31.9 billion and is part of the insurance industry. Shares are up 27.9% year to date as of the close of trading on Wednesday.

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Manulife Financial Corporation, together with its subsidiaries, provides financial protection and wealth management products and services to individual, corporate, and business customers primarily in Asia, Canada, and the United States. The company has a P/E ratio of 22.86.

TheStreet Ratings rates Manulife Financial Corporation as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, compelling growth in net income, notable return on equity, reasonable valuation levels and largely solid financial position with reasonable debt levels by most measures. 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 Manulife Financial Corporation Ratings Report now.

ResMed

Owners of ResMed (NYSE: RMD) shares as of market close today will be eligible for a dividend of 25 cents per share. At a price of $49.50 as of 9:35 a.m. ET, the dividend yield is 2%.

The average volume for ResMed has been 1.1 million shares per day over the past 30 days. ResMed has a market cap of $7.0 billion and is part of the health services industry. Shares are up 17.2% 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.

ResMed Inc., through its subsidiaries, engages in the development, manufacture, and distribution of medical equipment for treating, diagnosing, and managing sleep-disordered breathing and other respiratory disorders. The company has a P/E ratio of 23.41.

TheStreet Ratings rates ResMed 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, notable return on equity, solid stock price performance and expanding profit margins. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full ResMed Ratings Report now.

Teva Pharmaceutical Industries

Owners of Teva Pharmaceutical Industries (NYSE: TEVA) shares as of market close today will be eligible for a dividend of 27 cents per share. At a price of $39.59 as of 9:36 a.m. ET, the dividend yield is 2.5%.

The average volume for Teva Pharmaceutical Industries has been 3.7 million shares per day over the past 30 days. Teva Pharmaceutical Industries has a market cap of $33.5 billion and is part of the drugs industry. Shares are up 6.7% 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 company has a P/E ratio of 17.63.

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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