Ex-Dividends To Watch: 5 Stocks Going Ex-Dividend Tomorrow: VTN, BFZ, MMD, NXST, BP

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. 12, 2014, 196 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.1% to 23.8%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

AIM Investment Funds

Owners of AIM Investment Funds (NYSE: VTN) shares as of market close today will be eligible for a dividend of 8 cents per share. At a price of $14.24 as of 9:37 a.m. ET, the dividend yield is 7.1%.

The average volume for AIM Investment Funds has been 60,000 shares per day over the past 30 days. AIM Investment Funds has a market cap of $274.5 million and is part of the financial services industry. Shares are up 8.5% year-to-date as of the close of trading on Monday.

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The company has a P/E ratio of 13.19.

BlackRock California Municipal Income

Owners of BlackRock California Municipal Income (NYSE: BFZ) shares as of market close today will be eligible for a dividend of 8 cents per share. At a price of $14.55 as of 9:29 a.m. ET, the dividend yield is 6.4%.

The average volume for BlackRock California Municipal Income has been 107,500 shares per day over the past 30 days. BlackRock California Municipal Income has a market cap of $462.2 million and is part of the financial services industry. Shares are up 6% year-to-date as of the close of trading on Monday.

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MainStay DefinedTerm Municipal Opps Fund

Owners of MainStay DefinedTerm Municipal Opps Fund (NYSE: MMD) shares as of market close today will be eligible for a dividend of 10 cents per share. At a price of $16.82 as of 9:30 a.m. ET, the dividend yield is 6.8%.

The average volume for MainStay DefinedTerm Municipal Opps Fund has been 163,300 shares per day over the past 30 days. MainStay DefinedTerm Municipal Opps Fund has a market cap of $468.4 million and is part of the financial services industry. Shares are up 6.9% year-to-date as of the close of trading on Monday.

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Nexstar Broadcasting Group

Owners of Nexstar Broadcasting Group (NASDAQ: NXST) shares as of market close today will be eligible for a dividend of 15 cents per share. At a price of $43.29 as of 9:40 a.m. ET, the dividend yield is 1.3%.

The average volume for Nexstar Broadcasting Group has been 536,000 shares per day over the past 30 days. Nexstar Broadcasting Group has a market cap of $1.4 billion and is part of the media industry. Shares are down 22.8% year-to-date as of the close of trading on Monday.

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Nexstar Broadcasting Group, Inc., a television broadcasting and digital media company, focuses on the acquisition, development, and operation of television stations and interactive community Websites in medium-sized markets in the United States. The company has a P/E ratio of 8.35.

TheStreet Ratings rates Nexstar Broadcasting Group as a buy. The company's strengths can be seen in multiple areas, such as its notable return on equity, robust revenue growth, solid stock price performance, good cash flow from operations 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 Nexstar Broadcasting Group Ratings Report now.

BP

Owners of BP (NYSE: BP) shares as of market close today will be eligible for a dividend of 57 cents per share. At a price of $48.00 as of 9:40 a.m. ET, the dividend yield is 4.8%.

The average volume for BP has been 4.9 million shares per day over the past 30 days. BP has a market cap of $147.9 billion and is part of the energy industry. Shares are down 2.3% year-to-date as of the close of trading on Monday.

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BP p.l.c. provides fuel for transportation, energy for heat and light, lubricants to engines, and petrochemicals products. The company has a P/E ratio of 13.01.

TheStreet Ratings rates BP 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 BP 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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