Ex-Dividend Alert: 5 Stocks Going Ex-Dividend Tomorrow: EVJ, PMX, HPI, FIG, VNO

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Tomorrow, Nov. 7, 2013, 59 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 1.3% to 11.5%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

Eaton Vance NJ Muni Income

Owners of Eaton Vance NJ Muni Income (AMEX: EVJ) shares as of market close today will be eligible for a dividend of 7 cents per share. At a price of $11.86 as of 9:30 a.m. ET, the dividend yield is 6.6%.

The average volume for Eaton Vance NJ Muni Income has been 11,100 shares per day over the past 30 days. Eaton Vance NJ Muni Income has a market cap of $55.6 million and is part of the financial services industry. Shares are down 21.3% year to date as of the close of trading on Tuesday.

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The company has a P/E ratio of 12.38.

• See our top-yielding stocks list.

PIMCO Municipal Income Fund III

Owners of PIMCO Municipal Income Fund III (NYSE: PMX) shares as of market close today will be eligible for a dividend of 7 cents per share. At a price of $10.45 as of 9:31 a.m. ET, the dividend yield is 8%.

The average volume for PIMCO Municipal Income Fund III has been 87,600 shares per day over the past 30 days. PIMCO Municipal Income Fund III has a market cap of $339.0 million and is part of the financial services industry. Shares are down 15.2% year to date as of the close of trading on Tuesday.

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

The company has a P/E ratio of 9.25.

• See our top-yielding stocks list.

John Hancock Preferred Income Fund

Owners of John Hancock Preferred Income Fund (NYSE: HPI) shares as of market close today will be eligible for a dividend of 14 cents per share. At a price of $19.00 as of 9:31 a.m. ET, the dividend yield is 8.8%.

The average volume for John Hancock Preferred Income Fund has been 103,000 shares per day over the past 30 days. John Hancock Preferred Income Fund has a market cap of $495.3 million and is part of the financial services industry. Shares are down 13% year to date as of the close of trading on Tuesday.

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

The company has a P/E ratio of 8.51.

• See our top-yielding stocks list.

Fortress Investment Group

Owners of Fortress Investment Group (NYSE: FIG) shares as of market close today will be eligible for a dividend of 6 cents per share. At a price of $8.26 as of 9:29 a.m. ET, the dividend yield is 2.9%.

The average volume for Fortress Investment Group has been 956,400 shares per day over the past 30 days. Fortress Investment Group has a market cap of $2.0 billion and is part of the financial services industry. Shares are up 90.4% year to date as of the close of trading on Tuesday.

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

Fortress Investment Group LLC is a publicly owned investment manager. The company has a P/E ratio of 13.70.

TheStreet Ratings rates Fortress Investment Group as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, good cash flow from operations, solid stock price performance and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Fortress Investment Group Ratings Report now.

• See our top-yielding stocks list.

Vornado Realty

Owners of Vornado Realty (NYSE: VNO) shares as of market close today will be eligible for a dividend of 73 cents per share. At a price of $90.72 as of 9:30 a.m. ET, the dividend yield is 3.2%.

The average volume for Vornado Realty has been 808,500 shares per day over the past 30 days. Shares are up 12.9% year to date as of the close of trading on Tuesday.

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

Vornado Realty Trust is a publicly owned real estate investment trust. The firm invests in the real estate markets of the United States. It makes investments in commercial real estate properties to create its portfolio. The firm was formerly known as Vornado Inc. The company has a P/E ratio of 79.34.

TheStreet Ratings rates Vornado Realty as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels, good cash flow from operations, compelling growth in net income and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full Vornado Realty Ratings Report now.

• See our top-yielding stocks list.

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.

• See our dividend calendar.