4 With Upcoming Ex-Dividend Dates: SMG, DK, PH, PRU

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. 23, 2013, 9 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 1% to 3.2%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

Scotts Miracle Gro

Owners of Scotts Miracle Gro (NYSE: SMG) shares as of market close today will be eligible for a dividend of 44 cents per share. At a price of $54.45 as of 9:35 a.m. ET, the dividend yield is 3.2%.

The average volume for Scotts Miracle Gro has been 323,500 shares per day over the past 30 days. Scotts Miracle Gro has a market cap of $3.4 billion and is part of the chemicals industry. Shares are up 22.9% year to date as of the close of trading on Wednesday.

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The Scotts Miracle-Gro Company engages in manufacturing, marketing, and selling consumer lawn and garden care products. The company has a P/E ratio of 23.91.

TheStreet Ratings rates Scotts Miracle Gro as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, compelling growth in net income, expanding profit margins and solid stock price performance. 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 Scotts Miracle Gro Ratings Report now.

Delek US Holdings

Owners of Delek US Holdings (NYSE: DK) shares as of market close today will be eligible for a dividend of 15 cents per share. At a price of $26.36 as of 9:35 a.m. ET, the dividend yield is 2.3%.

The average volume for Delek US Holdings has been 760,400 shares per day over the past 30 days. Delek US Holdings has a market cap of $1.6 billion and is part of the energy industry. Shares are up 4.3% year to date as of the close of trading on Wednesday.

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Delek US Holdings, Inc. operates as an integrated downstream energy company that operates in petroleum refining, logistics, and convenience store retailing businesses. The company operates in three segments: Refining, Logistics, and Retail. The company has a P/E ratio of 5.63.

TheStreet Ratings rates Delek US Holdings as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, attractive valuation levels, increase in stock price during the past year, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full Delek US Holdings Ratings Report now.

Parker Hannifin Corporation

Owners of Parker Hannifin Corporation (NYSE: PH) shares as of market close today will be eligible for a dividend of 45 cents per share. At a price of $102.55 as of 9:35 a.m. ET, the dividend yield is 1.8%.

The average volume for Parker Hannifin Corporation has been 1.0 million shares per day over the past 30 days. Parker Hannifin Corporation has a market cap of $15.3 billion and is part of the industrial industry. Shares are up 19.7% year to date as of the close of trading on Wednesday.

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Parker Hannifin Corporation manufactures fluid power systems, electromechanical controls, and related components worldwide. The company has a P/E ratio of 16.36.

TheStreet Ratings rates Parker Hannifin Corporation 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, attractive valuation levels and solid stock price performance. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full Parker Hannifin Corporation Ratings Report now.

Prudential Financial

Owners of Prudential Financial (NYSE: PRU) shares as of market close today will be eligible for a dividend of 40 cents per share. At a price of $78.96 as of 9:35 a.m. ET, the dividend yield is 2%.

The average volume for Prudential Financial has been 2.7 million shares per day over the past 30 days. Prudential Financial has a market cap of $36.2 billion and is part of the insurance industry. Shares are up 45.7% 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.

Prudential Financial, Inc., through its subsidiaries, provides a range of insurance, investment management, and other financial products and services to both individual and institutional customers in the United States and internationally.

TheStreet Ratings rates Prudential Financial as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, notable return on equity, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full Prudential Financial 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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