Dividend Watch: 4 Stocks Going Ex-Dividend Monday: CEFL, HCBK, WNR, X

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.

Monday, Feb. 10, 2014, 8 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.8% to 18.8%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Monday:

ETRACS Monthly Pay 2xLeveraged Closed-End F

Owners of ETRACS Monthly Pay 2xLeveraged Closed-End F (n.a.: CEFL) shares as of market close today will be eligible for a dividend of 25 cents per share. At a price of $25.65 as of 9:30 a.m. ET, the dividend yield is 18.8%.

The average volume for ETRACS Monthly Pay 2xLeveraged Closed-End F has been 66,300 shares per day over the past 30 days. Shares are down 4.6% year-to-date as of the close of trading on Thursday.

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

Hudson City Bancorp

Owners of Hudson City Bancorp (NASDAQ: HCBK) shares as of market close today will be eligible for a dividend of 4 cents per share. At a price of $9.21 as of 9:35 a.m. ET, the dividend yield is 1.8%.

The average volume for Hudson City Bancorp has been 4.2 million shares per day over the past 30 days. Hudson City Bancorp has a market cap of $4.8 billion and is part of the banking industry. Shares are down 3.1% year-to-date as of the close of trading on Thursday.

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

Hudson City Bancorp, Inc. operates as the holding company of Hudson City Savings Bank that provides various banking products and services in the United States. The company has a P/E ratio of 24.46.

TheStreet Ratings rates Hudson City Bancorp as a hold. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, expanding profit margins and increase in stock price during the past year. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity. You can view the full Hudson City Bancorp Ratings Report now.

Western Refining

Owners of Western Refining (NYSE: WNR) shares as of market close today will be eligible for a dividend of 26 cents per share. At a price of $37.00 as of 9:35 a.m. ET, the dividend yield is 2.4%.

The average volume for Western Refining has been 1.6 million shares per day over the past 30 days. Western Refining has a market cap of $3.0 billion and is part of the energy industry. Shares are down 13.7% year-to-date as of the close of trading on Thursday.

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

Western Refining, Inc. operates as an independent crude oil refiner and marketer of refined products. It operates in three segments: Refining, Wholesale, and Retail. The company has a P/E ratio of 8.02.

TheStreet Ratings rates Western Refining as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, notable return on equity, attractive valuation levels and compelling growth in net income. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Western Refining Ratings Report now.

United States Steel Corporation

Owners of United States Steel Corporation (NYSE: X) shares as of market close today will be eligible for a dividend of 5 cents per share. At a price of $25.67 as of 9:35 a.m. ET, the dividend yield is 0.8%.

The average volume for United States Steel Corporation has been 7.1 million shares per day over the past 30 days. United States Steel Corporation has a market cap of $3.6 billion and is part of the metals & mining industry. Shares are down 13.5% year-to-date as of the close of trading on Thursday.

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

United States Steel Corporation produces and sells steel mill products in North America and Europe. The company operates in three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular).

TheStreet Ratings rates United States Steel Corporation as a hold. Among the primary strengths of the company is its solid stock performance, considering both the consistency and magnitude of the price movement over time. At the same time, however, we also find weaknesses including deteriorating net income, generally higher debt management risk and disappointing return on equity. You can view the full United States Steel 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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