3 Stocks Going Ex-Dividend Tomorrow: BBEP, WR, VOYA

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, June 5, 2014, 4:00 AM ET, 23 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.1% to 10.9%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

BreitBurn Energy Partners

Owners of BreitBurn Energy Partners (NASDAQ: BBEP) shares as of market close today will be eligible for a dividend of 17 cents per share. At a price of $21.43 as of 9:35 a.m. ET, the dividend yield is 9.4%.

The average volume for BreitBurn Energy Partners has been 552,300 shares per day over the past 30 days. BreitBurn Energy Partners has a market cap of $2.5 billion and is part of the energy industry. Shares are up 4.5% year-to-date as of the close of trading on Tuesday.

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BreitBurn Energy Partners L.P., an independent oil and gas company, acquires, explores, and develops oil, natural gas liquids (NGLs), and gas properties in the United States.

TheStreet Ratings rates BreitBurn Energy Partners as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, increase in stock price during the past year, impressive record of earnings per share growth, compelling growth in net income and good cash flow from operations. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated. You can view the full BreitBurn Energy Partners Ratings Report now.

Westar Energy

Owners of Westar Energy (NYSE: WR) shares as of market close today will be eligible for a dividend of 35 cents per share. At a price of $36.17 as of 9:36 a.m. ET, the dividend yield is 3.9%.

The average volume for Westar Energy has been 952,200 shares per day over the past 30 days. Westar Energy has a market cap of $4.6 billion and is part of the utilities industry. Shares are up 12.6% year-to-date as of the close of trading on Tuesday.

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Westar Energy, Inc., an electric utility, generates, transmits, and distributes electricity in Kansas. The company has 7,200 megawatts of electric generation capacity producing electricity through various fuel types, including coal, uranium, natural gas, wind, and landfill gas. The company has a P/E ratio of 15.08.

TheStreet Ratings rates Westar Energy as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, increase in stock price during the past year, growth in earnings per share and increase in net income. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated. You can view the full Westar Energy Ratings Report now.

Voya Financial

Owners of Voya Financial (NYSE: VOYA) shares as of market close today will be eligible for a dividend of 1 cent per share. At a price of $36.42 as of 9:36 a.m. ET, the dividend yield is 0.1%.

The average volume for Voya Financial has been 1.8 million shares per day over the past 30 days. Voya Financial has a market cap of $9.4 billion and is part of the financial services industry. Shares are up 3% year-to-date as of the close of trading on Tuesday.

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Voya Financial, Inc. operates as a retirement, investment, and insurance company in the United States. The company has five segments: Retirement, Annuities, Investment Management, Individual Life, and Employee Benefits. The company has a P/E ratio of 8.61.

TheStreet Ratings rates Voya Financial as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the company's profit margins have been poor overall. You can view the full Voya Financial 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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