Dividend Watch: 5 Stocks Going Ex-Dividend Tomorrow: PCQ, PKO, PDT, HME, TJX

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. 11, 2014, 42 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.3% to 12%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

PIMCO California Municipal Income Fund

Owners of PIMCO California Municipal Income Fund (NYSE: PCQ) shares as of market close today will be eligible for a dividend of 8 cents per share. At a price of $13.85 as of 9:30 a.m. ET, the dividend yield is 6.7%.

The average volume for PIMCO California Municipal Income Fund has been 63,000 shares per day over the past 30 days. PIMCO California Municipal Income Fund has a market cap of $255.0 million and is part of the financial services industry. Shares are up 6.2% year-to-date as of the close of trading on Friday.

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The company has a P/E ratio of 12.97.

PIMCO Income Opportunity Fund

Owners of PIMCO Income Opportunity Fund (NYSE: PKO) shares as of market close today will be eligible for a dividend of 19 cents per share. At a price of $29.46 as of 9:34 a.m. ET, the dividend yield is 7.8%.

The average volume for PIMCO Income Opportunity Fund has been 53,100 shares per day over the past 30 days. PIMCO Income Opportunity Fund has a market cap of $435.2 million and is part of the financial services industry. Shares are up 4.1% year-to-date as of the close of trading on Friday.

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

John Hancock Premium Dividend Fund

Owners of John Hancock Premium Dividend Fund (NYSE: PDT) shares as of market close today will be eligible for a dividend of 8 cents per share. At a price of $12.18 as of 9:35 a.m. ET, the dividend yield is 7.9%.

The average volume for John Hancock Premium Dividend Fund has been 210,600 shares per day over the past 30 days. John Hancock Premium Dividend Fund has a market cap of $605.1 million and is part of the financial services industry. Shares are up 4.7% year-to-date as of the close of trading on Friday.

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

The company has a P/E ratio of 14.24.

Home Properties

Owners of Home Properties (NYSE: HME) shares as of market close today will be eligible for a dividend of 73 cents per share. At a price of $59.22 as of 9:35 a.m. ET, the dividend yield is 5.1%.

The average volume for Home Properties has been 414,400 shares per day over the past 30 days. Home Properties has a market cap of $3.3 billion and is part of the real estate industry. Shares are up 10.1% year-to-date as of the close of trading on Friday.

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

Home Properties, Inc. is an independent real estate investment trust. The firm invests in the real estate markets of the United States. It is engaged in the ownership, management, acquisition, rehabilitation and development of residential apartment communities. The company has a P/E ratio of 19.60.

TheStreet Ratings rates Home Properties as a hold. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, revenue growth and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, a generally disappointing performance in the stock itself and poor profit margins. You can view the full Home Properties Ratings Report now.

TJX Companies

Owners of TJX Companies (NYSE: TJX) shares as of market close today will be eligible for a dividend of 14 cents per share. At a price of $59.42 as of 9:35 a.m. ET, the dividend yield is 1%.

The average volume for TJX Companies has been 3.6 million shares per day over the past 30 days. TJX Companies has a market cap of $42.2 billion and is part of the retail industry. Shares are down 6.8% year-to-date as of the close of trading on Friday.

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

The TJX Companies, Inc. operates as an off-price apparel and home fashions retailer in the United States and internationally. The company operates in four segments: Marmaxx, HomeGoods, TJX Canada, and TJX Europe. The company has a P/E ratio of 20.06.

TheStreet Ratings rates TJX Companies 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 notable return on equity. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full TJX Companies 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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