5 With Upcoming Ex-Dividend Dates: LGCY, EWBC, PNW, PAYX, C

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. 30, 2014, 23 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.1% to 8.6%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

Legacy Reserves

Owners of Legacy Reserves (NASDAQ: LGCY) shares as of market close today will be eligible for a dividend of 59 cents per share. At a price of $27.29 as of 9:32 a.m. ET, the dividend yield is 8.6%.

The average volume for Legacy Reserves has been 127,100 shares per day over the past 30 days. Legacy Reserves has a market cap of $1.6 billion and is part of the energy industry. Shares are down 3.7% 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.

Legacy Reserves LP, an independent oil and natural gas limited partnership, engages in the acquisition and development of oil and natural gas properties primarily located in the Permian Basin, Mid-Continent, and Rocky Mountain regions of the United States. The company has a P/E ratio of 135.50.

TheStreet Ratings rates Legacy Reserves as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, compelling growth in net income and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk and feeble growth in the company's earnings per share. You can view the full Legacy Reserves Ratings Report now.

East West Bancorp

Owners of East West Bancorp (NASDAQ: EWBC) shares as of market close today will be eligible for a dividend of 18 cents per share. At a price of $34.55 as of 9:33 a.m. ET, the dividend yield is 2.1%.

The average volume for East West Bancorp has been 641,800 shares per day over the past 30 days. East West Bancorp has a market cap of $4.8 billion and is part of the banking industry. Shares are down 0.2% 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.

East West Bancorp, Inc. operates as the bank holding company for East West Bank that provides a range of personal and commercial banking services to small and medium-sized businesses, business executives, professionals, and other individuals. The company has a P/E ratio of 16.47.

TheStreet Ratings rates East West Bancorp 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, solid stock price performance 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 East West Bancorp Ratings Report now.

Pinnacle West Capital Corporation

Owners of Pinnacle West Capital Corporation (NYSE: PNW) shares as of market close today will be eligible for a dividend of 57 cents per share. At a price of $52.08 as of 9:35 a.m. ET, the dividend yield is 4.4%.

The average volume for Pinnacle West Capital Corporation has been 955,400 shares per day over the past 30 days. Pinnacle West Capital Corporation has a market cap of $5.7 billion and is part of the utilities industry. Shares are down 1.8% 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.

Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, provides retail and wholesale electric services primarily in the State of Arizona. The company has a P/E ratio of 14.10.

TheStreet Ratings rates Pinnacle West Capital Corporation 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, expanding profit margins and attractive valuation levels. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Pinnacle West Capital Corporation Ratings Report now.

Paychex

Owners of Paychex (NASDAQ: PAYX) shares as of market close today will be eligible for a dividend of 35 cents per share. At a price of $42.07 as of 9:35 a.m. ET, the dividend yield is 3.3%.

The average volume for Paychex has been 2.5 million shares per day over the past 30 days. Paychex has a market cap of $15.3 billion and is part of the diversified services industry. Shares are down 7.1% 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.

Paychex, Inc., together with its subsidiaries, provides payroll, human resource, insurance, and benefits outsourcing solutions for small to medium-sized businesses in the United States and Germany. The company has a P/E ratio of 26.01.

TheStreet Ratings rates Paychex 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, growth in earnings per share and increase in net income. 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 Paychex Ratings Report now.

Citigroup

Owners of Citigroup (NYSE: C) shares as of market close today will be eligible for a dividend of 1 cent per share. At a price of $49.01 as of 9:35 a.m. ET, the dividend yield is 0.1%.

The average volume for Citigroup has been 23.4 million shares per day over the past 30 days. Citigroup has a market cap of $148.0 billion and is part of the banking industry. Shares are down 4.8% 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.

Citigroup, Inc., a diversified financial services holding company, provides a range of financial products and services to consumers, corporations, governments, and institutions worldwide. The company operates through two segments, Citicorp and Citi Holdings. The company has a P/E ratio of 12.23.

TheStreet Ratings rates Citigroup as a buy. The company's strengths can be seen in multiple areas, such as its increase in stock price during the past year, impressive record of earnings per share growth, compelling growth in net income, attractive valuation levels and notable return on equity. 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 Citigroup 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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