Ex-Dividends To Watch: 3 Stocks Going Ex-Dividend Tomorrow: DRI, INTU, GIS

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. 8, 2013, 6 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 1.1% to 4.7%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

Darden Restaurants

Owners of Darden Restaurants (NYSE: DRI) shares as of market close today will be eligible for a dividend of 55 cents per share. At a price of $46.29 as of 9:30 a.m. ET, the dividend yield is 4.7%.

The average volume for Darden Restaurants has been 1.4 million shares per day over the past 30 days. Darden Restaurants has a market cap of $6.1 billion and is part of the leisure industry. Shares are up 3% 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.

Darden Restaurants, Inc. owns and operates full service restaurants in the United States and Canada. It operates restaurants under the Red Lobster, Olive Garden, LongHorn Steakhouse, The Capital Grille, Bahama Breeze, Seasons 52, Eddie V's Prime Seafood, and Wildfish Seafood Grille brand names. The company has a P/E ratio of 16.46.

TheStreet Ratings rates Darden Restaurants as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth and reasonable valuation levels. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share. You can view the full Darden Restaurants Ratings Report now.

Intuit

Owners of Intuit (NASDAQ: INTU) shares as of market close today will be eligible for a dividend of 19 cents per share. At a price of $65.51 as of 9:30 a.m. ET, the dividend yield is 1.2%.

The average volume for Intuit has been 2.0 million shares per day over the past 30 days. Intuit has a market cap of $18.6 billion and is part of the computer software & services industry. Shares are up 10.9% 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.

Intuit Inc. provides business and financial management solutions for small businesses, consumers, and accounting professionals in the United States, Canada, the United Kingdom, Australia, India, and Singapore. The company has a P/E ratio of 24.25.

TheStreet Ratings rates Intuit 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, expanding profit margins, increase in stock price during the past year and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Intuit Ratings Report now.

General Mills

Owners of General Mills (NYSE: GIS) shares as of market close today will be eligible for a dividend of 38 cents per share. At a price of $47.85 as of 9:30 a.m. ET, the dividend yield is 3.1%.

The average volume for General Mills has been 3.3 million shares per day over the past 30 days. General Mills has a market cap of $31.0 billion and is part of the food & beverage industry. Shares are up 20.9% 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.

General Mills, Inc. produces and markets branded consumer foods in the United States and internationally. It also supplies branded and unbranded food products to the foodservice and commercial baking industries. The company has a P/E ratio of 18.30.

TheStreet Ratings rates General Mills as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, solid stock price performance 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 General Mills 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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