4 With Upcoming Ex-Dividend Dates: KNOP, NGL, CLMT, HAS

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. 31, 2014, 7 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 1.1% to 9.1%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

KNOT Offshore Partners

Owners of KNOT Offshore Partners (NYSE: KNOP) shares as of market close today will be eligible for a dividend of 44 cents per share. At a price of $26.45 as of 9:29 a.m. ET, the dividend yield is 6.7%.

The average volume for KNOT Offshore Partners has been 20,600 shares per day over the past 30 days. KNOT Offshore Partners has a market cap of $222.9 million and is part of the transportation industry. Shares are down 7.4% year-to-date as of the close of trading on Wednesday.

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

NGL Energy Partners

Owners of NGL Energy Partners (NYSE: NGL) shares as of market close today will be eligible for a dividend of 53 cents per share. At a price of $35.41 as of 9:34 a.m. ET, the dividend yield is 6%.

The average volume for NGL Energy Partners has been 198,500 shares per day over the past 30 days. NGL Energy Partners has a market cap of $2.3 billion and is part of the energy industry. Shares are up 1% year-to-date as of the close of trading on Wednesday.

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

NGL Energy Partners LP, through its subsidiaries, engages in propane and other natural gas liquids businesses in the United States. The company operates in four segments: Crude Oil Logistics, Water Services, Natural Gas Liquids Logistics, and Retail Propane. The company has a P/E ratio of 36.64.

TheStreet Ratings rates NGL Energy Partners as a sell. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, poor profit margins and weak operating cash flow. You can view the full NGL Energy Partners Ratings Report now.

Calumet Specialty Products Partners

Owners of Calumet Specialty Products Partners (NASDAQ: CLMT) shares as of market close today will be eligible for a dividend of 68 cents per share. At a price of $30.26 as of 9:35 a.m. ET, the dividend yield is 9.1%.

The average volume for Calumet Specialty Products Partners has been 483,800 shares per day over the past 30 days. Calumet Specialty Products Partners has a market cap of $2.1 billion and is part of the energy industry. Shares are up 14.3% year-to-date as of the close of trading on Wednesday.

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

Calumet Specialty Products Partners, L.P. produces and sells specialty hydrocarbon and fuel products in North America. It operates in two segments, Specialty Products and Fuel Products. The company has a P/E ratio of 36.34.

TheStreet Ratings rates Calumet Specialty Products Partners as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full Calumet Specialty Products Partners Ratings Report now.

Hasbro

Owners of Hasbro (NASDAQ: HAS) shares as of market close today will be eligible for a dividend of 40 cents per share. At a price of $51.23 as of 9:35 a.m. ET, the dividend yield is 3.1%.

The average volume for Hasbro has been 1.3 million shares per day over the past 30 days. Hasbro has a market cap of $6.7 billion and is part of the consumer durables industry. Shares are down 5.5% year-to-date as of the close of trading on Wednesday.

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

Hasbro, Inc., together with its subsidiaries, provides children's and family leisure time products and services worldwide. The company has a P/E ratio of 23.84.

TheStreet Ratings rates Hasbro as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Hasbro 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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