Ex-Dividend Alert: 5 Stocks Going Ex-Dividend Tomorrow: EVN, PMT, ROP, INTU, VZ

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, Jan. 8, 2014, 19 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.6% to 10.1%. 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 Municipal Income

Owners of Eaton Vance Municipal Income (NYSE: EVN) shares as of market close today will be eligible for a dividend of 8 cents per share. At a price of $10.94 as of 9:33 a.m. ET, the dividend yield is 8.4%.

The average volume for Eaton Vance Municipal Income has been 100,500 shares per day over the past 30 days. Eaton Vance Municipal Income has a market cap of $244.6 million and is part of the financial services industry. Shares are up 3.6% year-to-date as of the close of trading on Monday.

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The company has a P/E ratio of 10.31.

PennyMac Mortgage Investment

Owners of PennyMac Mortgage Investment (NYSE: PMT) shares as of market close today will be eligible for a dividend of 59 cents per share. At a price of $23.82 as of 9:35 a.m. ET, the dividend yield is 10.1%.

The average volume for PennyMac Mortgage Investment has been 670,100 shares per day over the past 30 days. PennyMac Mortgage Investment has a market cap of $1.7 billion and is part of the real estate industry. Shares are up 4.5% year-to-date as of the close of trading on Monday.

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PennyMac Mortgage Investment Trust, a specialty finance company, through its subsidiaries, invests primarily in residential mortgage loans and mortgage-related assets. The company operates in two segments, Correspondent Lending and Investment Activities. The company has a P/E ratio of 7.46.

TheStreet Ratings rates PennyMac Mortgage Investment as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, attractive valuation levels and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, a generally disappointing performance in the stock itself and feeble growth in the company's earnings per share. You can view the full PennyMac Mortgage Investment Ratings Report now.

Roper Industries

Owners of Roper Industries (NYSE: ROP) shares as of market close today will be eligible for a dividend of 20 cents per share. At a price of $137.24 as of 9:33 a.m. ET, the dividend yield is 0.6%.

The average volume for Roper Industries has been 452,200 shares per day over the past 30 days. Roper Industries has a market cap of $13.7 billion and is part of the industrial industry. Shares are down 0.7% year-to-date as of the close of trading on Monday.

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Roper Industries, Inc. designs, manufactures, and distributes radio frequency (RF) products and services, industrial technology products, energy systems and controls, and medical and scientific imaging products and software. The company has a P/E ratio of 26.74.

TheStreet Ratings rates Roper Industries as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, expanding profit margins, 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 somewhat disappointing return on equity. You can view the full Roper Industries Ratings Report now.

Intuit

Owners of Intuit (NASDAQ: INTU) shares as of market close today will be eligible for a dividend of 19 cents per share. At a price of $75.92 as of 9:35 a.m. ET, the dividend yield is 1%.

The average volume for Intuit has been 1.8 million shares per day over the past 30 days. Intuit has a market cap of $21.6 billion and is part of the computer software & services industry. Shares are down 0.8% year-to-date as of the close of trading on Monday.

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Intuit Inc. provides business and financial management solutions for small businesses, consumers, and accounting professionals in the United States, Canada, the United Kingdom, Australia, India, and Singapore. The company has a P/E ratio of 28.07.

TheStreet Ratings rates Intuit 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, increase in net income and expanding profit margins. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Intuit Ratings Report now.

Verizon Communications

Owners of Verizon Communications (NYSE: VZ) shares as of market close today will be eligible for a dividend of 53 cents per share. At a price of $48.94 as of 9:35 a.m. ET, the dividend yield is 4.4%.

The average volume for Verizon Communications has been 12.0 million shares per day over the past 30 days. Verizon Communications has a market cap of $138.5 billion and is part of the telecommunications industry. Shares are down 0.9% 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.

Verizon Communications Inc., through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company has a P/E ratio of 63.71.

TheStreet Ratings rates Verizon Communications as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in net income, good cash flow from operations, expanding profit margins and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full Verizon Communications 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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