Dividend Watch: 5 Stocks Going Ex-Dividend Tomorrow: IRT, TOO, EV, PAA, COG

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. 29, 2014, 52 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.2% to 14.2%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

Independence Realty

Owners of Independence Realty (AMEX: IRT) shares as of market close today will be eligible for a dividend of 6 cents per share. At a price of $8.25 as of 9:31 a.m. ET, the dividend yield is 8.7%.

The average volume for Independence Realty has been 118,800 shares per day over the past 30 days. Independence Realty has a market cap of $79.6 million and is part of the real estate industry. Shares are down 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.

Teekay Offshore Partners L.P

Owners of Teekay Offshore Partners L.P (NYSE: TOO) shares as of market close today will be eligible for a dividend of 54 cents per share. At a price of $31.92 as of 9:31 a.m. ET, the dividend yield is 6.7%.

The average volume for Teekay Offshore Partners L.P has been 133,000 shares per day over the past 30 days. Teekay Offshore Partners L.P has a market cap of $2.7 billion and is part of the transportation industry. Shares are down 3.6% 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.

Teekay Offshore Partners L.P. provides marine transportation, oil production, and storage services to the offshore oil industry in the North Sea and Brazil. The company has a P/E ratio of 22.89.

TheStreet Ratings rates Teekay Offshore Partners L.P as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, generally higher debt management risk and weak operating cash flow. You can view the full Teekay Offshore Partners L.P Ratings Report now.

Eaton Vance Corporation

Owners of Eaton Vance Corporation (NYSE: EV) shares as of market close today will be eligible for a dividend of 22 cents per share. At a price of $38.83 as of 9:35 a.m. ET, the dividend yield is 2.2%.

The average volume for Eaton Vance Corporation has been 664,000 shares per day over the past 30 days. Eaton Vance Corporation has a market cap of $4.8 billion and is part of the financial services industry. Shares are down 9.8% 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.

Eaton Vance Corp., through its subsidiaries, engages in the creation, marketing, and management of investment funds in the United States. It also provides investment management and counseling services to institutions and individuals. The company has a P/E ratio of 25.70.

TheStreet Ratings rates Eaton Vance Corporation as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins, good cash flow from operations, increase in net income and notable return on equity. 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 Eaton Vance Corporation Ratings Report now.

Plains All American Pipeline

Owners of Plains All American Pipeline (NYSE: PAA) shares as of market close today will be eligible for a dividend of 62 cents per share. At a price of $50.85 as of 9:35 a.m. ET, the dividend yield is 4.8%.

The average volume for Plains All American Pipeline has been 1.1 million shares per day over the past 30 days. Plains All American Pipeline has a market cap of $17.8 billion and is part of the energy industry. Shares are down 1.8% 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.

Plains All American Pipeline, L.P., through its subsidiaries, engages in the transportation, storage, terminalling, and marketing of crude oil and refined products in the United States and Canada. The company operates in three segments: Transportation, Facilities, and Supply and Logistics. The company has a P/E ratio of 17.72.

TheStreet Ratings rates Plains All American Pipeline as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, compelling growth in net income, reasonable valuation levels, notable return on equity and impressive record of earnings per share growth. 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 Plains All American Pipeline Ratings Report now.

Cabot Oil & Gas Corporation

Owners of Cabot Oil & Gas Corporation (NYSE: COG) shares as of market close today will be eligible for a dividend of 2 cents per share. At a price of $39.60 as of 9:35 a.m. ET, the dividend yield is 0.2%.

The average volume for Cabot Oil & Gas Corporation has been 5.3 million shares per day over the past 30 days. Cabot Oil & Gas Corporation has a market cap of $16.7 billion and is part of the energy industry. Shares are up 0.8% 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.

Cabot Oil & Gas Corporation, an independent oil and gas company, engages in the development, exploitation, exploration, production, and marketing of natural gas, crude oil, and natural gas liquids in the United States. The company has a P/E ratio of 69.39.

TheStreet Ratings rates Cabot Oil & Gas Corporation as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth, compelling growth in net income, expanding profit margins and good cash flow from operations. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. You can view the full Cabot Oil & Gas Corporation 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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