Dividend Watch: 5 Stocks Going Ex-Dividend Tomorrow: GUT, PSF, DBL, CBRL, YUM

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. 15, 2014, 29 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.5% to 11.8%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

Gabelli Utility

Owners of Gabelli Utility (NYSE: GUT) shares as of market close today will be eligible for a dividend of 5 cents per share. At a price of $6.48 as of 9:34 a.m. ET, the dividend yield is 9.3%.

The average volume for Gabelli Utility has been 91,500 shares per day over the past 30 days. Gabelli Utility has a market cap of $269.7 million and is part of the financial services industry. Shares are up 1.1% 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 35.96.

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 $24.32 as of 9:32 a.m. ET, the dividend yield is 8.5%.

The average volume for Cohen & Steers Select Preferred and Income has been 57,100 shares per day over the past 30 days. Cohen & Steers Select Preferred and Income has a market cap of $292.5 million and is part of the financial services industry. Shares are down 1.5% 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.

Doubleline Opportunistic Credit Fund

Owners of Doubleline Opportunistic Credit Fund (NYSE: DBL) shares as of market close today will be eligible for a dividend of 17 cents per share. At a price of $22.90 as of 9:35 a.m. ET, the dividend yield is 8.8%.

The average volume for Doubleline Opportunistic Credit Fund has been 109,300 shares per day over the past 30 days. Doubleline Opportunistic Credit Fund has a market cap of $334.9 million and is part of the financial services industry. Shares are up 2.4% 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.

Cracker Barrel Old Country Store

Owners of Cracker Barrel Old Country Store (NASDAQ: CBRL) shares as of market close today will be eligible for a dividend of 75 cents per share. At a price of $108.13 as of 9:35 a.m. ET, the dividend yield is 2.7%.

The average volume for Cracker Barrel Old Country Store has been 168,500 shares per day over the past 30 days. Cracker Barrel Old Country Store has a market cap of $2.6 billion and is part of the leisure industry. Shares are down 2.8% 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.

Cracker Barrel Old Country Store, Inc. develops and operates the Cracker Barrel Old Country Store concept in the United States. It operates full-service restaurants, which provide breakfast, lunch, and dinner. The company has a P/E ratio of 21.78.

TheStreet Ratings rates Cracker Barrel Old Country Store as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and reasonable valuation levels. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full Cracker Barrel Old Country Store Ratings Report now.

Yum Brands

Owners of Yum Brands (NYSE: YUM) shares as of market close today will be eligible for a dividend of 37 cents per share. At a price of $73.22 as of 9:35 a.m. ET, the dividend yield is 2%.

The average volume for Yum Brands has been 3.2 million shares per day over the past 30 days. Yum Brands has a market cap of $33.4 billion and is part of the leisure industry. Shares are down 2.9% 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.

YUM! Brands, Inc., together with its subsidiaries, operates quick service restaurants in the United States and internationally. It operates in six segments: YUM Restaurants China, YUM Restaurants International, Taco Bell U.S., KFC U.S., Pizza Hut U.S., and YUM Restaurants India. The company has a P/E ratio of 31.39.

TheStreet Ratings rates Yum Brands as a buy. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels 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 Yum Brands 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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