5 Stocks Going Ex-Dividend Tomorrow: HYB, NMFC, CPT, PTEN, WU

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, Dec. 13, 2013, 22 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.1% to 16.4%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

New America High Income Fund

Owners of New America High Income Fund (NYSE: HYB) shares as of market close today will be eligible for a dividend of 6 cents per share. At a price of $9.52 as of 9:29 a.m. ET, the dividend yield is 8.1%.

The average volume for New America High Income Fund has been 64,100 shares per day over the past 30 days. New America High Income Fund has a market cap of $225.5 million and is part of the financial services industry. Shares are down 8.6% year-to-date as of the close of trading on Wednesday.

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The company has a P/E ratio of 7.72.

New Mountain Finance

Owners of New Mountain Finance (NYSE: NMFC) shares as of market close today will be eligible for a dividend of 34 cents per share. At a price of $15.05 as of 9:34 a.m. ET, the dividend yield is 9.1%.

The average volume for New Mountain Finance has been 437,700 shares per day over the past 30 days. New Mountain Finance has a market cap of $676.5 million and is part of the financial services industry. Shares are up 0.5% year-to-date as of the close of trading on Wednesday.

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New Mountain Finance Corporation operates as a closed-end, non-diversified management investment company. The company has a P/E ratio of 8.14.

TheStreet Ratings rates New Mountain Finance as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, expanding profit margins, good cash flow from operations 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 New Mountain Finance Ratings Report now.

Camden Property

Owners of Camden Property (NYSE: CPT) shares as of market close today will be eligible for a dividend of 63 cents per share. At a price of $57.91 as of 9:35 a.m. ET, the dividend yield is 4.2%.

The average volume for Camden Property has been 598,100 shares per day over the past 30 days. Camden Property has a market cap of $5.1 billion and is part of the real estate industry. Shares are down 13.1% year-to-date as of the close of trading on Wednesday.

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Camden Property Trust is an independent real estate investment trust. The firm invests in the real estate markets of the United States. It is engaged in the ownership, development, acquisition, management, and disposition of multifamily residential apartment communities. The company has a P/E ratio of 30.10.

TheStreet Ratings rates Camden Property as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, compelling growth in net income, reasonable valuation levels and good cash flow from operations. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full Camden Property Ratings Report now.

Patterson-UTI Energy

Owners of Patterson-UTI Energy (NASDAQ: PTEN) shares as of market close today will be eligible for a dividend of 5 cents per share. At a price of $23.31 as of 9:35 a.m. ET, the dividend yield is 0.8%.

The average volume for Patterson-UTI Energy has been 2.7 million shares per day over the past 30 days. Patterson-UTI Energy has a market cap of $3.4 billion and is part of the energy industry. Shares are up 25.9% year-to-date as of the close of trading on Wednesday.

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Patterson-UTI Energy, Inc., through its subsidiaries, provides onshore contract drilling services to major and independent oil and natural gas operators in the United States and Canada. The company has a P/E ratio of 15.04.

TheStreet Ratings rates Patterson-UTI Energy 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, attractive valuation levels, solid stock price performance and increase in net income. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full Patterson-UTI Energy Ratings Report now.

Western Union Company

Owners of Western Union Company (NYSE: WU) shares as of market close today will be eligible for a dividend of 12 cents per share. At a price of $16.51 as of 9:35 a.m. ET, the dividend yield is 3%.

The average volume for Western Union Company has been 7.7 million shares per day over the past 30 days. Western Union Company has a market cap of $9.3 billion and is part of the financial services industry. Shares are up 21.8% year-to-date as of the close of trading on Wednesday.

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The Western Union Company provides money movement and payment services worldwide. The company operates in three segments: Consumer-to-Consumer, Consumer-to-Business, and Business Solutions. The Consumer-to-Consumer segment offers cash money transfer services involving walk-in agent locations. The company has a P/E ratio of 11.13.

TheStreet Ratings rates Western Union Company as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share. You can view the full Western Union Company 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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