Tomorrow's Ex-Dividends To Watch: JLS, RWT, NDAQ, ECA, M

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. 11, 2013, 56 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.3% to 24.4%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

Nuveen Mortgage Opportunity Term

Owners of Nuveen Mortgage Opportunity Term (NYSE: JLS) shares as of market close today will be eligible for a dividend of 24 cents per share. At a price of $23.72 as of 9:30 a.m. ET, the dividend yield is 8%.

The average volume for Nuveen Mortgage Opportunity Term has been 70,000 shares per day over the past 30 days. Nuveen Mortgage Opportunity Term has a market cap of $377.8 million and is part of the financial services industry. Shares are down 12.9% year to date as of the close of trading on Monday.

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

Redwood

Owners of Redwood (NYSE: RWT) shares as of market close today will be eligible for a dividend of 28 cents per share. At a price of $19.01 as of 9:36 a.m. ET, the dividend yield is 6%.

The average volume for Redwood has been 1.1 million shares per day over the past 30 days. Redwood has a market cap of $1.5 billion and is part of the real estate industry. Shares are up 13.1% year to date as of the close of trading on Monday.

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

Redwood Trust, Inc. engages in investing, financing, and managing real estate-related assets. The company has a P/E ratio of 7.82.

TheStreet Ratings rates Redwood as a hold. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we find that we feel that the company's cash flow from its operations has been weak overall. You can view the full Redwood Ratings Report now.

NASDAQ OMX Group

Owners of NASDAQ OMX Group (NASDAQ: NDAQ) shares as of market close today will be eligible for a dividend of 13 cents per share. At a price of $30.88 as of 9:35 a.m. ET, the dividend yield is 1.7%.

The average volume for NASDAQ OMX Group has been 1.2 million shares per day over the past 30 days. NASDAQ OMX Group has a market cap of $5.1 billion and is part of the financial services industry. Shares are up 22.1% year to date as of the close of trading on Monday.

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

The NASDAQ OMX Group, Inc. delivers trading, clearing, exchange technology, regulatory, securities listing, and public company services worldwide. The company has a P/E ratio of 17.04.

TheStreet Ratings rates NASDAQ OMX Group as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, attractive valuation levels, 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 NASDAQ OMX Group Ratings Report now.

Encana

Owners of Encana (NYSE: ECA) shares as of market close today will be eligible for a dividend of 20 cents per share. At a price of $17.50 as of 9:36 a.m. ET, the dividend yield is 4.6%.

The average volume for Encana has been 4.3 million shares per day over the past 30 days. Encana has a market cap of $12.9 billion and is part of the energy industry. Shares are down 11.4% year to date as of the close of trading on Monday.

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

04-Nov-05 CML Had conversation with Joe Murphy ARS Calgary. Appears that both EnCana and Petro Canada are interested in our Exec Risk capabilities. EnCana D&O is $200MM limit, $2.5MM premium and renews May 1, 2006 (Management Info Circular).

TheStreet Ratings rates Encana as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, compelling growth in net income and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, generally higher debt management risk and weak operating cash flow. You can view the full Encana Ratings Report now.

Macy's

Owners of Macy's (NYSE: M) shares as of market close today will be eligible for a dividend of 25 cents per share. At a price of $44.70 as of 9:36 a.m. ET, the dividend yield is 2.2%.

The average volume for Macy's has been 4.5 million shares per day over the past 30 days. Macy's has a market cap of $17.0 billion and is part of the retail industry. Shares are up 15.5% year to date as of the close of trading on Monday.

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

Macy's, Inc., together with its subsidiaries, operates stores and Internet Websites in the United States. The company has a P/E ratio of 13.18.

TheStreet Ratings rates Macy's as a buy. The company's strengths can be seen in multiple areas, such as its increase in stock price during the past year, growth in earnings per share, notable return on equity, reasonable valuation levels and increase in net income. 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 Macy's 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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