Tomorrow's Ex-Dividends To Watch: EARN, CM, RBC, CP, RL

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. 25, 2013, 23 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.1% to 12.7%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

Ellington Residential Mortgage REIT

Owners of Ellington Residential Mortgage REIT (NYSE: EARN) shares as of market close today will be eligible for a dividend of 50 cents per share. At a price of $15.69 as of 9:35 a.m. ET, the dividend yield is 12.7%.

The average volume for Ellington Residential Mortgage REIT has been 69,500 shares per day over the past 30 days. Ellington Residential Mortgage REIT has a market cap of $144.4 million and is part of the real estate industry. Shares are unchanged 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.

Canadian Imperial Bank of Commerce

Owners of Canadian Imperial Bank of Commerce (NYSE: CM) shares as of market close today will be eligible for a dividend of 92 cents per share. At a price of $81.17 as of 9:35 a.m. ET, the dividend yield is 4.6%.

The average volume for Canadian Imperial Bank of Commerce has been 220,700 shares per day over the past 30 days. Canadian Imperial Bank of Commerce has a market cap of $32.2 billion and is part of the banking industry. Shares are down 0.2% 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.

Canadian Imperial Bank of Commerce provides various financial products and services in Canada and internationally. It operates through three segments: Retail and Business Banking, Wealth Management, and Wholesale Banking. The company has a P/E ratio of 9.87.

TheStreet Ratings rates Canadian Imperial Bank of Commerce as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity and expanding profit margins. However, as a counter to these strengths, we find that the stock has experienced relatively poor performance when compared with the S&P 500 during the past year. You can view the full Canadian Imperial Bank of Commerce Ratings Report now.

Regal-Beloit Corporation

Owners of Regal-Beloit Corporation (NYSE: RBC) shares as of market close today will be eligible for a dividend of 20 cents per share. At a price of $68.14 as of 9:35 a.m. ET, the dividend yield is 1.2%.

The average volume for Regal-Beloit Corporation has been 391,800 shares per day over the past 30 days. Regal-Beloit Corporation has a market cap of $3.0 billion and is part of the industrial industry. Shares are down 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.

Regal Beloit Corporation, together with its subsidiaries, manufactures and sells electric motors and controls, electric generators and controls, and mechanical motion control products in the United States, Asia, and internationally. The company has a P/E ratio of 15.90.

TheStreet Ratings rates Regal-Beloit Corporation as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and attractive valuation levels. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full Regal-Beloit Corporation Ratings Report now.

Canadian Pacific Railway

Owners of Canadian Pacific Railway (NYSE: CP) shares as of market close today will be eligible for a dividend of 34 cents per share. At a price of $125.46 as of 9:35 a.m. ET, the dividend yield is 1.1%.

The average volume for Canadian Pacific Railway has been 674,200 shares per day over the past 30 days. Canadian Pacific Railway has a market cap of $22.2 billion and is part of the transportation industry. Shares are up 24.7% 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.

Canadian Pacific Railway Limited, through its subsidiaries, operates as a transcontinental railway providing freight transportation services, logistics solutions, and supply chain expertise in Canada and the United States. The company has a P/E ratio of 33.08.

TheStreet Ratings rates Canadian Pacific Railway 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, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full Canadian Pacific Railway Ratings Report now.

Ralph Lauren

Owners of Ralph Lauren (NYSE: RL) shares as of market close today will be eligible for a dividend of 40 cents per share. At a price of $165.86 as of 9:35 a.m. ET, the dividend yield is 1%.

The average volume for Ralph Lauren has been 746,600 shares per day over the past 30 days. Ralph Lauren has a market cap of $10.1 billion and is part of the consumer non-durables industry. Shares are up 11.6% 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.

Ralph Lauren Corporation engages in the design, marketing, and distribution of lifestyle products. The company has a P/E ratio of 21.15.

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