Dividend Watch: 5 Stocks Going Ex-Dividend Tomorrow: PCQ, PCN, QRE, CWH, WDR

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. 9, 2014, 29 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 2.1% to 12.2%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

PIMCO California Municipal Income Fund

Owners of PIMCO California Municipal Income Fund (NYSE: PCQ) shares as of market close today will be eligible for a dividend of 8 cents per share. At a price of $13.30 as of 9:34 a.m. ET, the dividend yield is 7%.

The average volume for PIMCO California Municipal Income Fund has been 71,100 shares per day over the past 30 days. PIMCO California Municipal Income Fund has a market cap of $244.3 million and is part of the financial services industry. Shares are up 2% year-to-date as of the close of trading on Tuesday.

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 12.43.

PIMCO Corporate & Income Strategy Fund

Owners of PIMCO Corporate & Income Strategy Fund (NYSE: PCN) shares as of market close today will be eligible for a dividend of 11 cents per share. At a price of $16.18 as of 9:34 a.m. ET, the dividend yield is 8.4%.

The average volume for PIMCO Corporate & Income Strategy Fund has been 113,000 shares per day over the past 30 days. PIMCO Corporate & Income Strategy Fund has a market cap of $612.5 million and is part of the financial services industry. Shares are up 2.3% year-to-date as of the close of trading on Tuesday.

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 5.53.

QR Energy

Owners of QR Energy (NYSE: QRE) shares as of market close today will be eligible for a dividend of 16 cents per share. At a price of $17.44 as of 9:34 a.m. ET, the dividend yield is 11.2%.

The average volume for QR Energy has been 325,600 shares per day over the past 30 days. QR Energy has a market cap of $1.0 billion and is part of the energy industry. Shares are up 1.2% year-to-date as of the close of trading on Tuesday.

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

QR Energy, LP, through its subsidiary, QRE Operating, LLC, engages in the acquisition, exploitation, development, and production of oil and natural gas properties in the United States.

TheStreet Ratings rates QR Energy as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, increase in net income and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity and generally higher debt management risk. You can view the full QR Energy Ratings Report now.

CommonWealth REIT

Owners of CommonWealth REIT (NYSE: CWH) shares as of market close today will be eligible for a dividend of 25 cents per share. At a price of $23.13 as of 9:34 a.m. ET, the dividend yield is 4.3%.

The average volume for CommonWealth REIT has been 879,600 shares per day over the past 30 days. CommonWealth REIT has a market cap of $2.7 billion and is part of the real estate industry. Shares are down 0.4% year-to-date as of the close of trading on Tuesday.

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

CommonWealth REIT is a real estate investment trust launched and managed by Reit Management & Research LLC. The fund invests in the real estate markets of the United States. It seeks to invest in office buildings, industrial buildings, and leased industrial land. The company has a P/E ratio of 60.76.

TheStreet Ratings rates CommonWealth REIT as a hold. The company's strengths can be seen in multiple areas, such as its good cash flow from operations, solid stock price performance and notable return on equity. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, poor profit margins and feeble growth in the company's earnings per share. You can view the full CommonWealth REIT Ratings Report now.

Waddell & Reed Financial

Owners of Waddell & Reed Financial (NYSE: WDR) shares as of market close today will be eligible for a dividend of 34 cents per share. At a price of $66.87 as of 9:35 a.m. ET, the dividend yield is 2.1%.

The average volume for Waddell & Reed Financial has been 655,200 shares per day over the past 30 days. Waddell & Reed Financial has a market cap of $5.6 billion and is part of the financial services industry. Shares are up 2.8% year-to-date as of the close of trading on Tuesday.

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

Waddell & Reed Financial, Inc., through its subsidiaries, provides investment management, investment product underwriting and distribution, and shareholder services administration to mutual funds, and institutional and separately managed accounts in the United States. The company has a P/E ratio of 24.83.

TheStreet Ratings rates Waddell & Reed Financial as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, expanding profit margins, impressive record of earnings per share growth and compelling growth in net income. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full Waddell & Reed Financial 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.

null

More from Markets

Automakers Slump as Trump Launches National Security Probe into US Car Imports

Automakers Slump as Trump Launches National Security Probe into US Car Imports

Global Stocks Slide as Trump's New Trade War Salvo Ignites Fresh Concern

Global Stocks Slide as Trump's New Trade War Salvo Ignites Fresh Concern

Ackman Investment Buoys Lowe's; DraftKings Responds to FanDuel Merger -- ICYMI

Ackman Investment Buoys Lowe's; DraftKings Responds to FanDuel Merger -- ICYMI

Replay: Jim Cramer on the Markets, Tiffany, Micron Technology and Union Pacific

Replay: Jim Cramer on the Markets, Tiffany, Micron Technology and Union Pacific

Carnival CEO Arnold Donald: China Will Become the Largest Cruise Market

Carnival CEO Arnold Donald: China Will Become the Largest Cruise Market