Dividend Watch: 3 Stocks Going Ex-Dividend Tomorrow: CYD, MCC, PTR

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, May 23, 2014, 4:00 AM ET, 17 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.1% to 11.8%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

China Yuchai International

At a price of $21.88 as of 9:39 a.m. ET, the dividend yield is 7.9%.

The average volume for China Yuchai International has been 52,700 shares per day over the past 30 days. China Yuchai International has a market cap of $799.8 million and is part of the industrial industry. Shares are up 4.5% year-to-date as of the close of trading on Wednesday.

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

China Yuchai International Limited, through its subsidiaries, manufactures and sells diesel and natural gas engines primarily in the People's Republic of China (PRC). It operates in two segments, Yuchai and HLGE. The company has a P/E ratio of 6.94.

TheStreet Ratings rates China Yuchai International as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, attractive valuation levels and increase in net income. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full China Yuchai International Ratings Report now.

Medley Capital

Owners of Medley Capital (NYSE: MCC) shares as of market close today will be eligible for a dividend of 37 cents per share. At a price of $12.58 as of 9:41 a.m. ET, the dividend yield is 11.8%.

The average volume for Medley Capital has been 696,200 shares per day over the past 30 days. Medley Capital has a market cap of $655.6 million and is part of the financial services industry. Shares are down 9.2% year-to-date as of the close of trading on Wednesday.

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

Medley Capital Corporation is a business development company. The fund seeks to invest in privately negotiated debt and equity securities of small and middle market companies. The company has a P/E ratio of 10.90.

TheStreet Ratings rates Medley Capital as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, expanding profit margins and increase in net income. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity, weak operating cash flow and a generally disappointing performance in the stock itself. You can view the full Medley Capital Ratings Report now.

PetroChina

At a price of $121.46 as of 9:38 a.m. ET, the dividend yield is 3.9%.

The average volume for PetroChina has been 177,700 shares per day over the past 30 days. PetroChina has a market cap of $217.4 billion and is part of the energy industry. Shares are up 9.2% year-to-date as of the close of trading on Wednesday.

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

PetroChina Company Limited produces and sells oil and gas in the People's Republic of China. The company operates in four segments: Exploration and Production, Refining and Chemicals, Marketing, and Natural Gas and Pipeline. The company has a P/E ratio of 188.57.

TheStreet Ratings rates PetroChina as a buy. The company's strengths can be seen in multiple areas, such as its attractive valuation levels, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full PetroChina 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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