Ex-Dividends To Watch: 5 Stocks Going Ex-Dividend Tomorrow: TLI, PSF, ESD, NDSN, AAP

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:

LMP Corporate Loan Fund

Owners of LMP Corporate Loan Fund (NYSE: TLI) shares as of market close today will be eligible for a dividend of 7 cents per share. At a price of $11.95 as of 9:35 a.m. ET, the dividend yield is 7.3%.

The average volume for LMP Corporate Loan Fund has been 36,100 shares per day over the past 30 days. LMP Corporate Loan Fund has a market cap of $118.8 million and is part of the financial services industry. Shares are down 7.4% 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.

Cohen & Steers Select Preferred and Income

Owners of Cohen & Steers Select Preferred and Income (NYSE: PSF) shares as of market close today will be eligible for a dividend of 17 cents per share. At a price of $23.63 as of 9:33 a.m. ET, the dividend yield is 8.7%.

The average volume for Cohen & Steers Select Preferred and Income has been 51,000 shares per day over the past 30 days. Cohen & Steers Select Preferred and Income has a market cap of $284.8 million and is part of the financial services industry. Shares are down 11.4% 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.

Western Asset Emerging Markets Debt Fund In

Owners of Western Asset Emerging Markets Debt Fund In (NYSE: ESD) shares as of market close today will be eligible for a dividend of 12 cents per share. At a price of $16.85 as of 9:34 a.m. ET, the dividend yield is 8.6%.

The average volume for Western Asset Emerging Markets Debt Fund In has been 139,600 shares per day over the past 30 days. Western Asset Emerging Markets Debt Fund In has a market cap of $518.3 million and is part of the financial services industry. Shares are down 22.8% 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.

The company has a P/E ratio of 11.30.

Nordson Corporation

Owners of Nordson Corporation (NASDAQ: NDSN) shares as of market close today will be eligible for a dividend of 18 cents per share. At a price of $72.00 as of 9:30 a.m. ET, the dividend yield is 1%.

The average volume for Nordson Corporation has been 226,700 shares per day over the past 30 days. Nordson Corporation has a market cap of $4.6 billion and is part of the industrial industry. Shares are up 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.

Nordson Corporation engineers, manufactures, and markets products and systems for precision dispensing and processing, fluid management, testing and inspection, surface treatment, and curing. The company has a P/E ratio of 21.36.

TheStreet Ratings rates Nordson Corporation 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 shows weak operating cash flow. You can view the full Nordson Corporation Ratings Report now.

Advance Auto Parts

Owners of Advance Auto Parts (NYSE: AAP) shares as of market close today will be eligible for a dividend of 6 cents per share. At a price of $109.60 as of 9:34 a.m. ET, the dividend yield is 0.2%.

The average volume for Advance Auto Parts has been 880,000 shares per day over the past 30 days. Advance Auto Parts has a market cap of $8.0 billion and is part of the retail industry. Shares are up 51.8% 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.

Advance Auto Parts, Inc., through its subsidiaries, operates as a specialty retailer of automotive aftermarket parts, accessories, batteries, and maintenance items. It operates in two segments, Advance Auto Parts (AAP), and Autopart International (AI). The company has a P/E ratio of 19.86.

TheStreet Ratings rates Advance Auto Parts as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, revenue growth, expanding profit margins and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Advance Auto Parts 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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