Tomorrow's Ex-Dividends To Watch: SRLP, PAG, ACC, GWW, STX

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:

Sprague Resources

Owners of Sprague Resources (NYSE: SRLP) shares as of market close today will be eligible for a dividend of 28 cents per share. At a price of $18.31 as of 9:34 a.m. ET, the dividend yield is 6.2%.

The average volume for Sprague Resources has been 60,200 shares per day over the past 30 days. Sprague Resources has a market cap of $183.6 million and is part of the energy industry. Shares are up 0.3% 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.

Penske Automotive Group

Owners of Penske Automotive Group (NYSE: PAG) shares as of market close today will be eligible for a dividend of 18 cents per share. At a price of $40.71 as of 9:34 a.m. ET, the dividend yield is 1.8%.

The average volume for Penske Automotive Group has been 281,200 shares per day over the past 30 days. Penske Automotive Group has a market cap of $3.6 billion and is part of the specialty retail industry. Shares are down 12.6% 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.

Penske Automotive Group, Inc. operates as an automotive retailer. The company operates in two segments, Retail and Other. It sells new and used motor vehicles of approximately 41 brands. The company has a P/E ratio of 15.26.

TheStreet Ratings rates Penske Automotive Group 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, compelling growth in net income and reasonable valuation levels. 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 Penske Automotive Group Ratings Report now.

American Campus Communities

Owners of American Campus Communities (NYSE: ACC) shares as of market close today will be eligible for a dividend of 36 cents per share. At a price of $33.61 as of 9:35 a.m. ET, the dividend yield is 4.3%.

The average volume for American Campus Communities has been 707,500 shares per day over the past 30 days. American Campus Communities has a market cap of $3.5 billion and is part of the real estate industry. Shares are up 4.6% 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.

American Campus Communities, Inc. is an independent equity real estate investment trust. The firm invests in the real estate markets of the United States. It primarily engages in developing, owning, and managing high-quality student housing communities. The company has a P/E ratio of 70.50.

TheStreet Ratings rates American Campus Communities as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations and compelling growth in net income. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, feeble growth in the company's earnings per share and disappointing return on equity. You can view the full American Campus Communities Ratings Report now.

W.W. Grainger

Owners of W.W. Grainger (NYSE: GWW) shares as of market close today will be eligible for a dividend of 93 cents per share. At a price of $230.96 as of 9:32 a.m. ET, the dividend yield is 1.6%.

The average volume for W.W. Grainger has been 440,200 shares per day over the past 30 days. W.W. Grainger has a market cap of $15.9 billion and is part of the wholesale industry. Shares are down 9.4% 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.

W.W. Grainger, Inc. distributes maintenance, repair, and operating supplies, as well as other related products and services for businesses and institutions primarily in the United States and Canada. The company has a P/E ratio of 19.90.

TheStreet Ratings rates W.W. Grainger 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, growth in earnings per share and increase in stock price during the past year. 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 W.W. Grainger Ratings Report now.

Seagate Technology

Owners of Seagate Technology (NASDAQ: STX) shares as of market close today will be eligible for a dividend of 43 cents per share. At a price of $49.96 as of 9:35 a.m. ET, the dividend yield is 3.4%.

The average volume for Seagate Technology has been 3.5 million shares per day over the past 30 days. Seagate Technology has a market cap of $16.8 billion and is part of the computer hardware industry. Shares are down 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.

Seagate Technology Public Limited Company designs, manufactures, and sells electronic data storage products. The company has a P/E ratio of 11.43.

TheStreet Ratings rates Seagate Technology as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, good cash flow from operations and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Seagate Technology 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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