5 With Upcoming Ex-Dividend Dates: VKQ, MWA, CTAS, GWW, PFE

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, Nov. 6, 2013, 75 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0% to 10.8%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

Invesco Municipal

Owners of Invesco Municipal (NYSE: VKQ) shares as of market close today will be eligible for a dividend of 7 cents per share. At a price of $11.65 as of 9:34 a.m. ET, the dividend yield is 6.9%.

The average volume for Invesco Municipal has been 176,700 shares per day over the past 30 days. Invesco Municipal has a market cap of $640.1 million and is part of the financial services industry. Shares are down 19.7% year to date as of the close of trading on Monday.

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The company has a P/E ratio of 11.34.

Mueller Water Products

Owners of Mueller Water Products (NYSE: MWA) shares as of market close today will be eligible for a dividend of 2 cents per share. At a price of $8.73 as of 9:35 a.m. ET, the dividend yield is 0.8%.

The average volume for Mueller Water Products has been 1.1 million shares per day over the past 30 days. Mueller Water Products has a market cap of $1.4 billion and is part of the industrial industry. Shares are up 56.7% year to date as of the close of trading on Monday.

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Mueller Water Products, Inc. engages in the manufacture and marketing of products and services used in the transmission, distribution, and measurement of water primarily in the United States and Canada. The company operates through two segments, Mueller Co. and Anvil. The Mueller Co. The company has a P/E ratio of 48.83.

TheStreet Ratings rates Mueller Water Products as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we find that the company has favored debt over equity in the management of its balance sheet. You can view the full Mueller Water Products Ratings Report now.

Cintas Corporation

Owners of Cintas Corporation (NASDAQ: CTAS) shares as of market close today will be eligible for a dividend of 77 cents per share. At a price of $53.75 as of 9:35 a.m. ET, the dividend yield is 1.4%.

The average volume for Cintas Corporation has been 534,200 shares per day over the past 30 days. Cintas Corporation has a market cap of $6.5 billion and is part of the diversified services industry. Shares are up 32% year to date as of the close of trading on Monday.

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Cintas Corporation provides corporate identity uniforms and related business services for approximately 1 million businesses primarily in North America, Latin America, Europe, and Asia. The company has a P/E ratio of 21.17.

TheStreet Ratings rates Cintas Corporation 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, solid stock price performance, growth in earnings per share and reasonable valuation levels. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Cintas Corporation Ratings Report now.

W.W. Grainger

Owners of W.W. Grainger (NYSE: GWW) shares as of market close today will be eligible for a dividend of 93 cents per share. At a price of $269.72 as of 9:35 a.m. ET, the dividend yield is 1.4%.

The average volume for W.W. Grainger has been 322,600 shares per day over the past 30 days. W.W. Grainger has a market cap of $18.7 billion and is part of the wholesale industry. Shares are up 33.4% year to date as of the close of trading on Monday.

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W.W. Grainger, Inc. engages in the distribution of maintenance, repair, and operating supplies, as well as other related products and services for businesses and institutions primarily in the United States and Canada. The company has a P/E ratio of 24.35.

TheStreet Ratings rates W.W. Grainger 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. 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 W.W. Grainger Ratings Report now.

Pfizer

Owners of Pfizer (NYSE: PFE) shares as of market close today will be eligible for a dividend of 24 cents per share. At a price of $31.23 as of 9:35 a.m. ET, the dividend yield is 3.1%.

The average volume for Pfizer has been 25.3 million shares per day over the past 30 days. Pfizer has a market cap of $206.4 billion and is part of the drugs industry. Shares are up 24.3% year to date as of the close of trading on Monday.

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Pfizer Inc., a biopharmaceutical company, discovers, develops, manufactures, and sells medicines for people and animals worldwide. The company has a P/E ratio of 24.54.

TheStreet Ratings rates Pfizer as a buy. The company's strengths can be seen in multiple areas, such as its 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 Pfizer 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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