Dividend Watch: 5 Stocks Going Ex-Dividend Tomorrow: PPR, PZZA, OLN, HCP, XOM

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, Feb. 6, 2014, 42 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.6% to 11.1%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

ING Prime Rate

Owners of ING Prime Rate (NYSE: PPR) shares as of market close today will be eligible for a dividend of 3 cents per share. At a price of $5.88 as of 9:33 a.m. ET, the dividend yield is 6.4%.

The average volume for ING Prime Rate has been 493,800 shares per day over the past 30 days. ING Prime Rate has a market cap of $870.2 million and is part of the financial services industry. Shares are up 1% year-to-date as of the close of trading on Tuesday.

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The company has a P/E ratio of 10.33.

Papa John's International

Owners of Papa John's International (NASDAQ: PZZA) shares as of market close today will be eligible for a dividend of 12 cents per share. At a price of $46.62 as of 9:35 a.m. ET, the dividend yield is 1.1%.

The average volume for Papa John's International has been 310,700 shares per day over the past 30 days. Papa John's International has a market cap of $2.0 billion and is part of the leisure industry. Shares are up 3.3% year-to-date as of the close of trading on Tuesday.

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Papa John's International, Inc. operates and franchises pizza delivery and carryout restaurants under the Papa John's trademark worldwide. The company also operates dine-in and restaurant-based delivery restaurants in certain international markets. The company has a P/E ratio of 30.74.

TheStreet Ratings rates Papa John's International 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, notable return on equity and increase in net income. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full Papa John's International Ratings Report now.

Olin Corporation

Owners of Olin Corporation (NYSE: OLN) shares as of market close today will be eligible for a dividend of 20 cents per share. At a price of $25.01 as of 9:35 a.m. ET, the dividend yield is 3.2%.

The average volume for Olin Corporation has been 1.4 million shares per day over the past 30 days. Olin Corporation has a market cap of $2.0 billion and is part of the chemicals industry. Shares are down 12.9% year-to-date as of the close of trading on Tuesday.

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Olin Corporation manufactures and sells chlor alkali products in the United States and internationally. It operates in three segments, Chlor Alkali Products, Chemical Distribution, and Winchester. The company has a P/E ratio of 11.33.

TheStreet Ratings rates Olin Corporation as a buy. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, notable return on equity, increase in stock price during the past year and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Olin Corporation Ratings Report now.

HCP

Owners of HCP (NYSE: HCP) shares as of market close today will be eligible for a dividend of 54 cents per share. At a price of $38.92 as of 9:35 a.m. ET, the dividend yield is 5.6%.

The average volume for HCP has been 2.9 million shares per day over the past 30 days. HCP has a market cap of $17.7 billion and is part of the real estate industry. Shares are up 7.4% 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.

HCP, Inc. is an independent hybrid real estate investment trust. The fund invests in real estate markets of the United States. The company has a P/E ratio of 20.02.

TheStreet Ratings rates HCP as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, compelling growth in net income, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full HCP Ratings Report now.

Exxon Mobil Corporation

Owners of Exxon Mobil Corporation (NYSE: XOM) shares as of market close today will be eligible for a dividend of 63 cents per share. At a price of $90.02 as of 9:35 a.m. ET, the dividend yield is 2.8%.

The average volume for Exxon Mobil Corporation has been 12.2 million shares per day over the past 30 days. Exxon Mobil Corporation has a market cap of $393.4 billion and is part of the energy industry. Shares are down 11.1% 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.

Exxon Mobil Corporation engages in the exploration and production of crude oil and natural gas, and manufacture of petroleum products. The company also transports and sells crude oil, natural gas, and petroleum products. It has approximately 37,228 gross and 31,264 net operated wells. The company has a P/E ratio of 12.22.

TheStreet Ratings rates Exxon Mobil Corporation as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth 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 Exxon Mobil 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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