Dividend Watch: 5 Stocks Going Ex-Dividend Tomorrow: NAZ, MYC, JTP, PMT, CF

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. 13, 2013, 210 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.1% to 19.5%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

Nuveen Arizona Premium Income Municipal

Owners of Nuveen Arizona Premium Income Municipal (NYSE: NAZ) shares as of market close today will be eligible for a dividend of 6 cents per share. At a price of $12.20 as of 9:29 a.m. ET, the dividend yield is 6.3%.

The average volume for Nuveen Arizona Premium Income Municipal has been 34,200 shares per day over the past 30 days. Nuveen Arizona Premium Income Municipal has a market cap of $141.1 million and is part of the financial services industry. Shares are down 20.4% year to date as of the close of trading on Monday.

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The company has a P/E ratio of 14.70.

BlackRock MuniYield CA Fund

Owners of BlackRock MuniYield CA Fund (NYSE: MYC) shares as of market close today will be eligible for a dividend of 8 cents per share. At a price of $14.27 as of 9:37 a.m. ET, the dividend yield is 6.5%.

The average volume for BlackRock MuniYield CA Fund has been 61,400 shares per day over the past 30 days. BlackRock MuniYield CA Fund has a market cap of $309.1 million and is part of the financial services industry. Shares are down 14.4% year to date as of the close of trading on Monday.

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 15.09.

Nuveen Quality Preferred Income Fund

Owners of Nuveen Quality Preferred Income Fund (NYSE: JTP) shares as of market close today will be eligible for a dividend of 5 cents per share. At a price of $7.64 as of 9:32 a.m. ET, the dividend yield is 8.2%.

The average volume for Nuveen Quality Preferred Income Fund has been 238,800 shares per day over the past 30 days. Nuveen Quality Preferred Income Fund has a market cap of $492.7 million and is part of the financial services industry. Shares are down 12.1% year to date as of the close of trading on Monday.

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 5.86.

PennyMac Mortgage Investment

Owners of PennyMac Mortgage Investment (NYSE: PMT) shares as of market close today will be eligible for a dividend of 57 cents per share. At a price of $22.07 as of 9:35 a.m. ET, the dividend yield is 10.3%.

The average volume for PennyMac Mortgage Investment has been 1.1 million shares per day over the past 30 days. PennyMac Mortgage Investment has a market cap of $1.6 billion and is part of the real estate industry. Shares are down 12.7% year to date as of the close of trading on Monday.

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

PennyMac Mortgage Investment Trust, a specialty finance company, through its subsidiaries, invests primarily in residential mortgage loans and mortgage-related assets. The company operates in two segments, Correspondent Lending and Investment Activities. The company has a P/E ratio of 6.44.

TheStreet Ratings rates PennyMac Mortgage Investment as a hold. Among the primary strengths of the company is its respectable return on equity which we feel is likely to continue. At the same time, however, we also find weaknesses including unimpressive growth in net income and a generally disappointing performance in the stock itself. You can view the full PennyMac Mortgage Investment Ratings Report now.

CF Industries Holdings

At a price of $219.89 as of 9:35 a.m. ET, the dividend yield is 1.8%.

The average volume for CF Industries Holdings has been 824,600 shares per day over the past 30 days. CF Industries Holdings has a market cap of $12.6 billion and is part of the chemicals industry. Shares are up 8% year to date as of the close of trading on Monday.

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

CF Industries Holdings, Inc. manufactures and distributes nitrogen and phosphate fertilizer products worldwide. It operates in two segments, Nitrogen and Phosphate. The company has a P/E ratio of 8.31.

TheStreet Ratings rates CF Industries Holdings 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 CF Industries Holdings 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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