Ex-Dividend Alert: 5 Stocks Going Ex-Dividend Tomorrow: ENX, ETO, EOS, ETV, AWH

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Tomorrow, Dec. 20, 2013, 22 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 1.9% to 12.1%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

Eaton Vance New York Municipal Bond Fund

Owners of Eaton Vance New York Municipal Bond Fund (AMEX: ENX) shares as of market close today will be eligible for a dividend of 6 cents per share. At a price of $11.54 as of 9:35 a.m. ET, the dividend yield is 6.1%.

The average volume for Eaton Vance New York Municipal Bond Fund has been 46,700 shares per day over the past 30 days. Eaton Vance New York Municipal Bond Fund has a market cap of $178.2 million and is part of the financial services industry. Shares are down 19.5% year-to-date as of the close of trading on Wednesday.

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The company has a P/E ratio of 11.21.

Eaton Vance Tax-Advantaged Global Dividend

Owners of Eaton Vance Tax-Advantaged Global Dividend (NYSE: ETO) shares as of market close today will be eligible for a dividend of 67 cents per share. At a price of $24.10 as of 9:33 a.m. ET, the dividend yield is 7.6%.

The average volume for Eaton Vance Tax-Advantaged Global Dividend has been 36,500 shares per day over the past 30 days. Eaton Vance Tax-Advantaged Global Dividend has a market cap of $344.4 million and is part of the financial services industry. Shares are up 19.6% year-to-date as of the close of trading on Wednesday.

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The company has a P/E ratio of 14.20.

Eaton Vance Enhanced Equity Income Fund II

Owners of Eaton Vance Enhanced Equity Income Fund II (NYSE: EOS) shares as of market close today will be eligible for a dividend of 9 cents per share. At a price of $12.73 as of 9:29 a.m. ET, the dividend yield is 8.3%.

The average volume for Eaton Vance Enhanced Equity Income Fund II has been 149,700 shares per day over the past 30 days. Eaton Vance Enhanced Equity Income Fund II has a market cap of $599.0 million and is part of the financial services industry. Shares are up 21.7% year-to-date as of the close of trading on Wednesday.

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Eaton Vance Tax-Managed Buy-Write Opportuni

Owners of Eaton Vance Tax-Managed Buy-Write Opportuni (NYSE: ETV) shares as of market close today will be eligible for a dividend of 11 cents per share. At a price of $13.85 as of 9:34 a.m. ET, the dividend yield is 9.7%.

The average volume for Eaton Vance Tax-Managed Buy-Write Opportuni has been 180,300 shares per day over the past 30 days. Eaton Vance Tax-Managed Buy-Write Opportuni has a market cap of $869.0 million and is part of the financial services industry. Shares are up 9.3% year-to-date as of the close of trading on Wednesday.

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The company has a P/E ratio of 136.60.

Allied World Assurance Company Holdings

Owners of Allied World Assurance Company Holdings (NYSE: AWH) shares as of market close today will be eligible for a dividend of 50 cents per share. At a price of $109.44 as of 9:35 a.m. ET, the dividend yield is 1.9%.

The average volume for Allied World Assurance Company Holdings has been 169,600 shares per day over the past 30 days. Allied World Assurance Company Holdings has a market cap of $3.7 billion and is part of the insurance industry. Shares are up 37.5% year-to-date as of the close of trading on Wednesday.

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Allied World Assurance Company Holdings, AG, through its subsidiaries, provides property and casualty insurance and reinsurance solutions in Bermuda, the United States, Europe, Hong Kong, Labuan, and Singapore. The company operates through three segments: U.S. The company has a P/E ratio of 15.50.

TheStreet Ratings rates Allied World Assurance Company Holdings as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Allied World Assurance Company 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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