Ex-Dividend Alert: 5 Stocks Going Ex-Dividend Tomorrow: KHI, GDO, DBL, NYMT, CB

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. 18, 2013, 66 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.2% to 15%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

DWS High Income

Owners of DWS High Income (NYSE: KHI) shares as of market close today will be eligible for a dividend of 6 cents per share. At a price of $9.09 as of 9:29 a.m. ET, the dividend yield is 7.9%.

The average volume for DWS High Income has been 35,400 shares per day over the past 30 days. DWS High Income has a market cap of $149.0 million and is part of the financial services industry. Shares are down 10.6% year-to-date as of the close of trading on Monday.

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The company has a P/E ratio of 8.44.

Western Asset Global Corporate Defined Oppo

Owners of Western Asset Global Corporate Defined Oppo (NYSE: GDO) shares as of market close today will be eligible for a dividend of 12 cents per share. At a price of $17.84 as of 9:33 a.m. ET, the dividend yield is 7.8%.

The average volume for Western Asset Global Corporate Defined Oppo has been 49,500 shares per day over the past 30 days. Western Asset Global Corporate Defined Oppo has a market cap of $273.9 million and is part of the financial services industry. Shares are down 14% year-to-date as of the close of trading on Monday.

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Doubleline Opportunistic Credit Fund

Owners of Doubleline Opportunistic Credit Fund (NYSE: DBL) shares as of market close today will be eligible for a dividend of 17 cents per share. At a price of $22.36 as of 9:35 a.m. ET, the dividend yield is 8.8%.

The average volume for Doubleline Opportunistic Credit Fund has been 90,100 shares per day over the past 30 days. Doubleline Opportunistic Credit Fund has a market cap of $334.9 million and is part of the financial services industry. Shares are down 15.9% year-to-date as of the close of trading on Monday.

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New York Mortgage

Owners of New York Mortgage (NASDAQ: NYMT) shares as of market close today will be eligible for a dividend of 27 cents per share. At a price of $7.25 as of 9:35 a.m. ET, the dividend yield is 15%.

The average volume for New York Mortgage has been 779,800 shares per day over the past 30 days. New York Mortgage has a market cap of $460.3 million and is part of the real estate industry. Shares are up 14.2% year-to-date as of the close of trading on Monday.

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New York Mortgage Trust, Inc., a real estate investment trust (REIT), engages in acquiring, investing in, financing, and managing mortgage-related and financial assets in the United States. The company has a P/E ratio of 8.70.

TheStreet Ratings rates New York Mortgage as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, compelling growth in net income and attractive valuation levels. However, as a counter to these strengths, we also find weaknesses including poor profit margins and feeble growth in the company's earnings per share. You can view the full New York Mortgage Ratings Report now.

Chubb

Owners of Chubb (NYSE: CB) shares as of market close today will be eligible for a dividend of 44 cents per share. At a price of $93.06 as of 9:35 a.m. ET, the dividend yield is 1.9%.

The average volume for Chubb has been 925,400 shares per day over the past 30 days. Chubb has a market cap of $23.4 billion and is part of the insurance industry. Shares are up 23.4% year-to-date as of the close of trading on Monday.

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The Chubb Corporation, through its subsidiaries, provides property and casualty insurance to businesses and individuals. The company has a P/E ratio of 12.91.

TheStreet Ratings rates Chubb 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, increase in stock price during the past year, growth in earnings per share and notable return on equity. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Chubb 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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