5 With Upcoming Ex-Dividend Dates: OLP, CHMI, THO, AXLL, RL

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. 24, 2013, 40 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.5% to 13.3%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

One Liberty Properties

Owners of One Liberty Properties (NYSE: OLP) shares as of market close today will be eligible for a dividend of 37 cents per share. At a price of $21.80 as of 9:33 a.m. ET, the dividend yield is 7%.

The average volume for One Liberty Properties has been 37,300 shares per day over the past 30 days. One Liberty Properties has a market cap of $333.1 million and is part of the real estate industry. Shares are up 4.9% year-to-date as of the close of trading on Friday.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

One Liberty Properties, Inc., a real estate investment trust (REIT), engages in the acquisition, ownership, and management of commercial real estate properties in the United States. The company has a P/E ratio of 19.35.

TheStreet Ratings rates One Liberty Properties as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels, good cash flow from operations, expanding profit margins 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 One Liberty Properties Ratings Report now.

Cherry Hill Mortgage Investment

Owners of Cherry Hill Mortgage Investment (NYSE: CHMI) shares as of market close today will be eligible for a dividend of 45 cents per share. At a price of $18.13 as of 9:31 a.m. ET, the dividend yield is 9.8%.

The average volume for Cherry Hill Mortgage Investment has been 201,000 shares per day over the past 30 days. Cherry Hill Mortgage Investment has a market cap of $137.6 million and is part of the real estate industry. Shares are unchanged year-to-date as of the close of trading on Friday.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Thor Industries

Owners of Thor Industries (NYSE: THO) shares as of market close today will be eligible for a dividend of 23 cents per share. At a price of $52.34 as of 9:34 a.m. ET, the dividend yield is 1.8%.

The average volume for Thor Industries has been 418,900 shares per day over the past 30 days. Thor Industries has a market cap of $2.8 billion and is part of the automotive industry. Shares are up 38.6% year-to-date as of the close of trading on Friday.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Thor Industries, Inc., together with its subsidiaries, designs, manufactures, and sells a range of recreational vehicles, and related parts and accessories in the United States and Canada. It operates through two segments, Towable Recreational Vehicles and Motorized Recreational Vehicles. The company has a P/E ratio of 17.29.

TheStreet Ratings rates Thor Industries 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, notable return on equity, impressive record of earnings per share growth and compelling growth in net income. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Thor Industries Ratings Report now.

Axiall

Owners of Axiall (NYSE: AXLL) shares as of market close today will be eligible for a dividend of 16 cents per share. At a price of $45.92 as of 9:35 a.m. ET, the dividend yield is 1.4%.

The average volume for Axiall has been 966,400 shares per day over the past 30 days. Axiall has a market cap of $3.2 billion and is part of the chemicals industry. Shares are up 11.6% year-to-date as of the close of trading on Friday.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Axiall Corporation operates as an integrated chemicals and building products company in North America and Asia. The company has a P/E ratio of 18.13.

TheStreet Ratings rates Axiall as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels, 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 Axiall Ratings Report now.

Ralph Lauren

Owners of Ralph Lauren (NYSE: RL) shares as of market close today will be eligible for a dividend of 45 cents per share. At a price of $175.81 as of 9:35 a.m. ET, the dividend yield is 1%.

The average volume for Ralph Lauren has been 853,300 shares per day over the past 30 days. Ralph Lauren has a market cap of $10.6 billion and is part of the consumer non-durables industry. Shares are up 16.8% year-to-date as of the close of trading on Friday.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Ralph Lauren Corporation engages in the design, marketing, and distribution of lifestyle products. The company has a P/E ratio of 22.31.

TheStreet Ratings rates Ralph Lauren 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, reasonable valuation levels, increase in stock price during the past year and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Ralph Lauren 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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