Dividend Watch: 3 Stocks Going Ex-Dividend Tomorrow: WHX, VLCCF, FLIR

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, Friday, Feb. 14, 2014, 5:00 AM ET, 25 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 1% to 36.8%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

Whiting USA Trust I

Owners of Whiting USA Trust I (NYSE: WHX) shares as of market close today will be eligible for a dividend of 56 cents per share. At a price of $6.05 as of 9:35 a.m. ET, the dividend yield is 36.8%.

The average volume for Whiting USA Trust I has been 310,300 shares per day over the past 30 days. Whiting USA Trust I has a market cap of $83.9 million and is part of the energy industry. Shares are up 15.5% year-to-date as of the close of trading on Wednesday.

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The company has a P/E ratio of 2.92.

Knightsbridge Tankers

Owners of Knightsbridge Tankers (NASDAQ: VLCCF) shares as of market close today will be eligible for a dividend of 18 cents per share. At a price of $10.10 as of 9:33 a.m. ET, the dividend yield is 6.9%.

The average volume for Knightsbridge Tankers has been 434,600 shares per day over the past 30 days. Knightsbridge Tankers has a market cap of $248.4 million and is part of the transportation industry. Shares are up 10.8% year-to-date as of the close of trading on Wednesday.

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Knightsbridge Tankers Limited, a shipping company, engages in the seaborne transportation of crude oil and dry bulk cargoes worldwide. As of December 31, 2012, it owned and operated one very large crude carrier and four Capesize dry bulk carriers. The company has a P/E ratio of 72.50.

TheStreet Ratings rates Knightsbridge Tankers as a hold. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. However, as a counter to these strengths, we find that the company's return on equity has been disappointing. You can view the full Knightsbridge Tankers Ratings Report now.

FLIR Systems

Owners of FLIR Systems (NASDAQ: FLIR) shares as of market close today will be eligible for a dividend of 10 cents per share. At a price of $30.94 as of 9:35 a.m. ET, the dividend yield is 1.3%.

The average volume for FLIR Systems has been 1.1 million shares per day over the past 30 days. FLIR Systems has a market cap of $4.4 billion and is part of the aerospace/defense industry. Shares are up 3.4% year-to-date as of the close of trading on Wednesday.

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FLIR Systems, Inc. designs, manufactures, and markets thermal imaging systems worldwide. The company operates in five segments: Thermal Vision & Measurement (TVM), Raymarine, Surveillance, Detection, and Integrated Systems. The company has a P/E ratio of 25.52.

TheStreet Ratings rates FLIR Systems 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, solid stock price performance and good cash flow from operations. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full FLIR Systems 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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