Ex-Dividend Alert: 5 Stocks Going Ex-Dividend Tomorrow: HHY, GLAD, BOI, PL, PSX

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. 12, 2013, 55 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.5% to 20.5%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

Helios High Yield Fund

Owners of Helios High Yield Fund (NYSE: HHY) shares as of market close today will be eligible for a dividend of 8 cents per share. At a price of $9.93 as of 9:29 a.m. ET, the dividend yield is 8.9%.

The average volume for Helios High Yield Fund has been 25,900 shares per day over the past 30 days. Shares are down 0.5% 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.

Gladstone Capital

Owners of Gladstone Capital (NASDAQ: GLAD) shares as of market close today will be eligible for a dividend of 7 cents per share. At a price of $9.19 as of 9:35 a.m. ET, the dividend yield is 9.5%.

The average volume for Gladstone Capital has been 83,000 shares per day over the past 30 days. Gladstone Capital has a market cap of $186.1 million and is part of the financial services industry. Shares are up 8.6% 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.

Gladstone Capital Corporation is a business development company specializing in investments in debt and equity securities. The company has a P/E ratio of 20.60.

TheStreet Ratings rates Gladstone Capital as a hold. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income and reasonable valuation levels. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year. You can view the full Gladstone Capital Ratings Report now.

Brookfield Mortgage Opportunity Income Fund

Owners of Brookfield Mortgage Opportunity Income Fund (NYSE: BOI) shares as of market close today will be eligible for a dividend of 13 cents per share. At a price of $16.52 as of 9:30 a.m. ET, the dividend yield is 9.1%.

The average volume for Brookfield Mortgage Opportunity Income Fund has been 91,800 shares per day over the past 30 days. Brookfield Mortgage Opportunity Income Fund has a market cap of $380.9 million and is part of the financial services industry. Shares are unchanged 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.

Protective Life

Owners of Protective Life (NYSE: PL) shares as of market close today will be eligible for a dividend of 20 cents per share. At a price of $46.75 as of 9:30 a.m. ET, the dividend yield is 1.8%.

The average volume for Protective Life has been 343,800 shares per day over the past 30 days. Protective Life has a market cap of $3.5 billion and is part of the insurance industry. Shares are up 57.6% 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.

Protective Life Corporation, together with its subsidiaries, provides financial services primarily in the United States. The company engages in the production, distribution, and administration of insurance and retirement products. The company has a P/E ratio of 10.67.

TheStreet Ratings rates Protective Life as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, increase in net income, attractive valuation levels and notable return on equity. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full Protective Life Ratings Report now.

Phillips 66

Owners of Phillips 66 (NYSE: PSX) shares as of market close today will be eligible for a dividend of 39 cents per share. At a price of $65.22 as of 9:30 a.m. ET, the dividend yield is 2.4%.

The average volume for Phillips 66 has been 3.4 million shares per day over the past 30 days. Phillips 66 has a market cap of $38.3 billion and is part of the energy industry. Shares are up 20.2% 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.

Phillips 66 operates as an independent downstream energy company. The company operates in three segments: Refining and Marketing (R&M), Midstream, and Chemicals. The company has a P/E ratio of 11.08.

TheStreet Ratings rates Phillips 66 as a hold. 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 and notable return on equity. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, unimpressive growth in net income and poor profit margins. You can view the full Phillips 66 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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