Ex-Dividend Alert: 4 Stocks Going Ex-Dividend Tomorrow: NGLS, TRGP, RY, VNO

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. 23, 2014, 4 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 2.8% to 5.9%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

Targa Resources Partners

Owners of Targa Resources Partners (NYSE: NGLS) shares as of market close today will be eligible for a dividend of 75 cents per share. At a price of $51.36 as of 9:35 a.m. ET, the dividend yield is 5.9%.

The average volume for Targa Resources Partners has been 346,500 shares per day over the past 30 days. Targa Resources Partners has a market cap of $5.5 billion and is part of the energy industry. Shares are down 1.3% 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.

Targa Resources Partners LP provides midstream natural gas, natural gas liquid (NGL), terminaling, and crude oil gathering services in the United States. The company operates in two divisions, Gathering and Processing, and Logistics and Marketing. The company has a P/E ratio of 84.92.

TheStreet Ratings rates Targa Resources Partners as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, increase in net income and solid stock price performance. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated. You can view the full Targa Resources Partners Ratings Report now.

Targa Resources

Owners of Targa Resources (NYSE: TRGP) shares as of market close today will be eligible for a dividend of 61 cents per share. At a price of $88.70 as of 9:35 a.m. ET, the dividend yield is 2.8%.

The average volume for Targa Resources has been 256,500 shares per day over the past 30 days. Targa Resources has a market cap of $3.7 billion and is part of the energy industry. Shares are up 2.4% 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.

Targa Resources Corp., through its general and limited partner interests in Targa Resources Partners LP, provides midstream natural gas and natural gas liquid (NGL) services in the United States. The company has a P/E ratio of 66.35.

TheStreet Ratings rates Targa Resources as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, good cash flow from operations, impressive record of earnings per share growth and compelling growth in net income. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated. You can view the full Targa Resources Ratings Report now.

Royal Bank Of Canada

Owners of Royal Bank Of Canada (NYSE: RY) shares as of market close today will be eligible for a dividend of 63 cents per share. At a price of $66.73 as of 9:35 a.m. ET, the dividend yield is 3.8%.

The average volume for Royal Bank Of Canada has been 509,500 shares per day over the past 30 days. Royal Bank Of Canada has a market cap of $94.4 billion and is part of the banking industry. Shares are down 1% 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.

Royal Bank of Canada, a diversified financial service company, provides personal and commercial banking, wealth management, insurance, investor, and capital markets products and services worldwide. The company has a P/E ratio of 12.34.

TheStreet Ratings rates Royal Bank Of Canada as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity and growth in earnings per share. However, as a counter to these strengths, we find that the growth in the company's net income has been quite unimpressive. You can view the full Royal Bank Of Canada Ratings Report now.

Vornado Realty

Owners of Vornado Realty (NYSE: VNO) shares as of market close today will be eligible for a dividend of 73 cents per share. At a price of $93.13 as of 9:35 a.m. ET, the dividend yield is 3.2%.

The average volume for Vornado Realty has been 754,400 shares per day over the past 30 days. Vornado Realty has a market cap of $17.2 billion and is part of the real estate industry. Shares are up 3.9% 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.

Vornado Realty Trust is a publicly owned real estate investment trust. The firm invests in the real estate markets of the United States. It makes investments in commercial real estate properties to create its portfolio. The firm was formerly known as Vornado Inc. The company has a P/E ratio of 80.51.

TheStreet Ratings rates Vornado Realty as a hold. The company's strengths can be seen in multiple areas, such as its good cash flow from operations and increase in stock price during the past year. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and poor profit margins. You can view the full Vornado Realty 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

Dow and Nasdaq Finish Lower as 10-Year Treasury Yield Hovers Near 3%

Dow and Nasdaq Finish Lower as 10-Year Treasury Yield Hovers Near 3%

Video: Stop Using Student Loan Money to Buy Bitcoin

Video: Stop Using Student Loan Money to Buy Bitcoin

Let the Najarian Brothers Crash-Proof Portfolio

Let the Najarian Brothers Crash-Proof Portfolio

Facebook Sends Facial Recognition Notification in Error

Facebook Sends Facial Recognition Notification in Error

3 Hot Reads From TheStreet's Top Premium Columnists

3 Hot Reads From TheStreet's Top Premium Columnists