4 Stocks Going Ex-Dividend Tomorrow: LNCO, WLK, PPL, CBS

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, Sept. 6, 2013, 22 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.6% to 12%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

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 $27.29 as of 9:35 a.m. ET, the dividend yield is 10.6%.

The average volume for LinnCo has been 774,700 shares per day over the past 30 days. LinnCo has a market cap of $956.0 million and is part of the energy industry. Shares are down 24% 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.

Westlake Chemical Corporation

Owners of Westlake Chemical Corporation (NYSE: WLK) shares as of market close today will be eligible for a dividend of 23 cents per share. At a price of $103.73 as of 9:35 a.m. ET, the dividend yield is 0.9%.

The average volume for Westlake Chemical Corporation has been 415,400 shares per day over the past 30 days. Westlake Chemical Corporation has a market cap of $6.8 billion and is part of the chemicals industry. Shares are up 30.2% 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.

Westlake Chemical Corporation manufactures and markets basic chemicals, vinyls, polymers, and fabricated building products. It operates in two segments, Olefins and Vinyls. The company has a P/E ratio of 15.20.

TheStreet Ratings rates Westlake Chemical Corporation as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Westlake Chemical Corporation Ratings Report now.

PPL

Owners of PPL (NYSE: PPL) shares as of market close today will be eligible for a dividend of 37 cents per share. At a price of $30.67 as of 9:35 a.m. ET, the dividend yield is 4.8%.

The average volume for PPL has been 5.0 million shares per day over the past 30 days. PPL has a market cap of $19.3 billion and is part of the utilities industry. Shares are up 7.3% 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.

PPL Corporation, an energy and utility holding company, engages in the generation, transmission, distribution, and sale of electricity to wholesale and retail customers in the United States and the United Kingdom. The company operates in four segments: Kentucky Regulated, U.K. The company has a P/E ratio of 12.29.

TheStreet Ratings rates PPL as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in net income, good cash flow from operations, attractive valuation levels and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated. You can view the full PPL Ratings Report now.

CBS Corporation

Owners of CBS Corporation (NYSE: CBS) shares as of market close today will be eligible for a dividend of 12 cents per share. At a price of $54.60 as of 9:36 a.m. ET, the dividend yield is 0.9%.

The average volume for CBS Corporation has been 4.4 million shares per day over the past 30 days. CBS Corporation has a market cap of $30.3 billion and is part of the media industry. Shares are up 43.5% 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 19.81.

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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