Ex-Dividends To Watch: 5 Stocks Going Ex-Dividend Tomorrow: RAS, LII, LM, KIM, CSCO

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, Oct. 1, 2013, 10 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.6% to 8.5%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

Rait Financial

Owners of Rait Financial (NYSE: RAS) shares as of market close today will be eligible for a dividend of 15 cents per share. At a price of $7.05 as of 9:30 a.m. ET, the dividend yield is 8.5%.

The average volume for Rait Financial has been 604,300 shares per day over the past 30 days. Rait Financial has a market cap of $498.8 million and is part of the real estate industry. Shares are up 25.7% year to date as of the close of trading on Friday.

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

RAIT Financial Trust operates as a self-managed and self-advised real estate investment trust (REIT). The company, through its subsidiaries, invests in, manages, and services real estate-related assets with a focus on commercial real estate.

TheStreet Ratings rates Rait Financial as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and poor profit margins. You can view the full Rait Financial Ratings Report now.

Lennox International

Owners of Lennox International (NYSE: LII) shares as of market close today will be eligible for a dividend of 24 cents per share. At a price of $74.79 as of 4:05 p.m. ET, the dividend yield is 1.3%.

The average volume for Lennox International has been 404,300 shares per day over the past 30 days. Lennox International has a market cap of $3.7 billion and is part of the industrial industry. Shares are up 41.7% year to date as of the close of trading on Thursday.

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

Lennox International Inc., through its subsidiaries, designs, manufactures, and markets climate control products for the heating, ventilation, air conditioning, and refrigeration markets. The company has a P/E ratio of 24.32.

TheStreet Ratings rates Lennox International as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, impressive record of earnings per share growth, notable return on equity and reasonable valuation levels. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full Lennox International Ratings Report now.

Legg Mason

Owners of Legg Mason (NYSE: LM) shares as of market close today will be eligible for a dividend of 13 cents per share. At a price of $33.54 as of 9:30 a.m. ET, the dividend yield is 1.5%.

The average volume for Legg Mason has been 1.3 million shares per day over the past 30 days. Legg Mason has a market cap of $4.2 billion and is part of the financial services industry. Shares are up 32.5% year to date as of the close of trading on Friday.

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

Legg Mason, Inc. is a publicly owned asset management holding company. The firm through its subsidiaries provides investment management and related services to institutional and individual clients, company-sponsored mutual funds and other pooled investment vehicles. Legg Mason, Inc.

TheStreet Ratings rates Legg Mason as a hold. The company's strengths can be seen in multiple areas, such as its solid stock price performance, increase in net income and revenue growth. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity and poor profit margins. You can view the full Legg Mason Ratings Report now.

Kimco Realty

Owners of Kimco Realty (NYSE: KIM) shares as of market close today will be eligible for a dividend of 21 cents per share. At a price of $20.31 as of 9:30 a.m. ET, the dividend yield is 4.1%.

The average volume for Kimco Realty has been 3.0 million shares per day over the past 30 days. Kimco Realty has a market cap of $8.3 billion and is part of the real estate industry. Shares are up 4.9% year to date as of the close of trading on Friday.

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

Kimco Realty Corporation is an independent real estate investment trust. The firm invests in the real estate markets across North America. It is primarily engaged in acquisitions, development, and management of neighborhood and community shopping centers. The company has a P/E ratio of 61.39.

TheStreet Ratings rates Kimco Realty as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, reasonable valuation levels, expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Kimco Realty Ratings Report now.

Cisco Systems

Owners of Cisco Systems (NASDAQ: CSCO) shares as of market close today will be eligible for a dividend of 17 cents per share. At a price of $23.05 as of 9:30 a.m. ET, the dividend yield is 2.8%.

The average volume for Cisco Systems has been 32.9 million shares per day over the past 30 days. Cisco Systems has a market cap of $129.4 billion and is part of the computer hardware industry. Shares are up 22.9% year to date as of the close of trading on Friday.

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

Cisco Systems, Inc. designs, manufactures, and sells Internet protocol (IP) and other products related to the communications and information technology industry worldwide. The company has a P/E ratio of 12.98.

TheStreet Ratings rates Cisco Systems 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, attractive valuation levels and solid stock price performance. 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 Cisco Systems 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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