5 Stocks Going Ex-Dividend Tomorrow: KSM, SCD, BCF, GLF, TIF

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 Strategic Municipal Income

Owners of DWS Strategic Municipal Income (NYSE: KSM) shares as of market close today will be eligible for a dividend of 8 cents per share. At a price of $12.06 as of 9:30 a.m. ET, the dividend yield is 7.7%.

The average volume for DWS Strategic Municipal Income has been 27,000 shares per day over the past 30 days. DWS Strategic Municipal Income has a market cap of $133.9 million and is part of the financial services industry. Shares are down 17.1% year-to-date as of the close of trading on Monday.

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The company has a P/E ratio of 12.69.

LMP Capital and Income Fund

Owners of LMP Capital and Income Fund (NYSE: SCD) shares as of market close today will be eligible for a dividend of 28 cents per share. At a price of $15.20 as of 9:35 a.m. ET, the dividend yield is 7.4%.

The average volume for LMP Capital and Income Fund has been 60,100 shares per day over the past 30 days. LMP Capital and Income Fund has a market cap of $271.7 million and is part of the financial services industry. Shares are up 12.2% year-to-date as of the close of trading on Monday.

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The company has a P/E ratio of 31.48.

BlackRock Real Asset Equity

Owners of BlackRock Real Asset Equity (NYSE: BCF) shares as of market close today will be eligible for a dividend of 17 cents per share. At a price of $8.47 as of 9:34 a.m. ET, the dividend yield is 8.2%.

The average volume for BlackRock Real Asset Equity has been 241,000 shares per day over the past 30 days. BlackRock Real Asset Equity has a market cap of $486.5 million and is part of the financial services industry. Shares are down 17.4% year-to-date as of the close of trading on Monday.

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GulfMark Offshore

Owners of GulfMark Offshore (NYSE: GLF) shares as of market close today will be eligible for a dividend of 25 cents per share. At a price of $46.54 as of 9:35 a.m. ET, the dividend yield is 2.2%.

The average volume for GulfMark Offshore has been 164,800 shares per day over the past 30 days. GulfMark Offshore has a market cap of $1.3 billion and is part of the energy industry. Shares are up 35.4% year-to-date as of the close of trading on Monday.

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GulfMark Offshore, Inc. provides offshore marine support and transportation services primarily to companies involved in the offshore exploration and production of oil and natural gas. The company has a P/E ratio of 30.28.

TheStreet Ratings rates GulfMark Offshore as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins, good cash flow from operations, increase in net income and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full GulfMark Offshore Ratings Report now.

Tiffany

Owners of Tiffany (NYSE: TIF) shares as of market close today will be eligible for a dividend of 34 cents per share. At a price of $90.69 as of 9:34 a.m. ET, the dividend yield is 1.5%.

The average volume for Tiffany has been 966,200 shares per day over the past 30 days. Tiffany has a market cap of $11.4 billion and is part of the specialty retail industry. Shares are up 55.8% year-to-date as of the close of trading on Monday.

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Tiffany & Co., through its subsidiaries, designs, manufactures, and retails jewelry worldwide. The company operates through Americas, Asia-Pacific, Japan, Europe, and Other segments. The company has a P/E ratio of 24.74.

TheStreet Ratings rates Tiffany as a buy. The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins and good cash flow from operations. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full Tiffany 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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