Ex-Dividends To Watch: 5 Stocks Going Ex-Dividend Tomorrow: PNI, HPS, PDT, WBS, HLF

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. 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:

PIMCO New York Municipal Income Fund II

Owners of PIMCO New York Municipal Income Fund II (NYSE: PNI) shares as of market close today will be eligible for a dividend of 7 cents per share. At a price of $10.95 as of 9:34 a.m. ET, the dividend yield is 7.3%.

The average volume for PIMCO New York Municipal Income Fund II has been 28,400 shares per day over the past 30 days. Shares are down 14.9% 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.

The company has a P/E ratio of 10.16.

John Hancock Preferred Income Fund III

Owners of John Hancock Preferred Income Fund III (NYSE: HPS) shares as of market close today will be eligible for a dividend of 12 cents per share. At a price of $16.56 as of 9:35 a.m. ET, the dividend yield is 8.8%.

The average volume for John Hancock Preferred Income Fund III has been 92,100 shares per day over the past 30 days. Shares are down 11% year to date as of the close of trading on Tuesday.

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The company has a P/E ratio of 7.72.

John Hancock Premium Dividend Fund

Owners of John Hancock Premium Dividend Fund (NYSE: PDT) shares as of market close today will be eligible for a dividend of 8 cents per share. At a price of $12.48 as of 9:30 a.m. ET, the dividend yield is 7.2%.

The average volume for John Hancock Premium Dividend Fund has been 210,300 shares per day over the past 30 days. John Hancock Premium Dividend Fund has a market cap of $627.6 million and is part of the financial services industry. Shares are down 8.4% 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.

The company has a P/E ratio of 14.76.

Webster Financial

Owners of Webster Financial (NYSE: WBS) shares as of market close today will be eligible for a dividend of 15 cents per share. At a price of $28.00 as of 9:30 a.m. ET, the dividend yield is 2.1%.

The average volume for Webster Financial has been 684,300 shares per day over the past 30 days. Webster Financial has a market cap of $2.5 billion and is part of the banking industry. Shares are up 36.7% 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.

Webster Financial Corporation operates as the holding company for Webster Bank, National Association that provides financial services to individuals, families, and businesses primarily in southern New England and Westchester County, New York. The company has a P/E ratio of 14.55.

TheStreet Ratings rates Webster Financial as a buy. The company's strengths can be seen in multiple areas, such as its expanding profit margins, growth in earnings per share, increase in net income 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 Webster Financial Ratings Report now.

Herbalife

Owners of Herbalife (NYSE: HLF) shares as of market close today will be eligible for a dividend of 30 cents per share. At a price of $63.64 as of 9:30 a.m. ET, the dividend yield is 1.9%.

The average volume for Herbalife has been 2.8 million shares per day over the past 30 days. Herbalife has a market cap of $6.3 billion and is part of the consumer non-durables industry. Shares are up 89.1% 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.

Herbalife Ltd., through its subsidiaries, produces and distributes weight management, healthy meals and snacks, sports and fitness, energy and targeted nutritional products, and personal care products worldwide. The company has a P/E ratio of 12.85.

TheStreet Ratings rates Herbalife as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, impressive record of earnings per share growth, increase in net income and expanding profit margins. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated. You can view the full Herbalife 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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