Dividend Watch: 3 Stocks Going Ex-Dividend Tomorrow: WSR, BOBE, PF

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, Thursday, May 29, 2014, 4:00 AM ET, 41 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.2% to 8.2%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

Whitestone REIT

Owners of Whitestone REIT (NYSE: WSR) shares as of market close today will be eligible for a dividend of 10 cents per share. At a price of $14.33 as of 9:36 a.m. ET, the dividend yield is 8.1%.

The average volume for Whitestone REIT has been 94,200 shares per day over the past 30 days. Whitestone REIT has a market cap of $317.1 million and is part of the real estate industry. Shares are up 6.9% year-to-date as of the close of trading on Tuesday.

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

WhiteStone REIT is a Maryland REIT engaged in owning and operating commercial properties in culturally diverse markets in major metropolitan areas. The company has a P/E ratio of 56.60.

TheStreet Ratings rates Whitestone REIT as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth, compelling growth in net income, reasonable valuation levels and good cash flow from operations. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full Whitestone REIT Ratings Report now.

Bob Evans Farms

Owners of Bob Evans Farms (NASDAQ: BOBE) shares as of market close today will be eligible for a dividend of 31 cents per share. At a price of $47.11 as of 9:36 a.m. ET, the dividend yield is 2.6%.

The average volume for Bob Evans Farms has been 377,900 shares per day over the past 30 days. Bob Evans Farms has a market cap of $1.2 billion and is part of the leisure industry. Shares are down 6.8% year-to-date as of the close of trading on Tuesday.

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

Bob Evans Farms, Inc. owns and operates full-service restaurants under the Bob Evans brand name in the United States. It also sells retail gifts, food items, and other novelties in its Bob Evans restaurants, and 6 Bob Evans restaurants & general stores.

TheStreet Ratings rates Bob Evans Farms as a buy. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, reasonable valuation levels, largely solid financial position with reasonable debt levels by most measures and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full Bob Evans Farms Ratings Report now.

Pinnacle Foods

Owners of Pinnacle Foods (NYSE: PF) shares as of market close today will be eligible for a dividend of 21 cents per share. At a price of $31.54 as of 9:36 a.m. ET, the dividend yield is 2.5%.

The average volume for Pinnacle Foods has been 1.2 million shares per day over the past 30 days. Pinnacle Foods has a market cap of $3.9 billion and is part of the food & beverage industry. Shares are up 14.6% year-to-date as of the close of trading on Tuesday.

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

Pinnacle Foods Inc., through its subsidiaries, manufactures, markets, and distributes branded convenience food products in North America. It operates through three segments: Birds Eye Frozen, Duncan Hines Grocery, and Specialty Foods. The company has a P/E ratio of 37.81.

TheStreet Ratings rates Pinnacle Foods as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations and impressive record of earnings per share growth. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity, generally higher debt management risk and poor profit margins. You can view the full Pinnacle Foods 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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