Ex-Dividends To Watch: 3 Stocks Going Ex-Dividend Tomorrow: AIF, ISIL, SPB

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, August 15, 2014, 18 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.6% to 83.3%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

Apollo Tactical Income Fund

Owners of Apollo Tactical Income Fund (NYSE: AIF) shares, as of market close today, will be eligible for a dividend of 12 cents per share. At a price of $17.89 as of 9:30 a.m. ET, the dividend yield is 7.9%.

The average volume for Apollo Tactical Income Fund has been 61,100 shares per day over the past 30 days. Apollo Tactical Income Fund has a market cap of $257.6 million and is part of the financial services industry. Shares are down 0.7% 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.

Intersil Corporation

Owners of Intersil Corporation (NASDAQ: ISIL) shares, as of market close today, will be eligible for a dividend of 12 cents per share. At a price of $13.61 as of 9:36 a.m. ET, the dividend yield is 3.6%.

The average volume for Intersil Corporation has been 1.2 million shares per day over the past 30 days. Intersil Corporation has a market cap of $1.7 billion and is part of the electronics industry. Shares are up 18.3% 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.

Intersil Corporation designs and develops power management and precision analog integrated circuits (ICs) for applications in the industrial and infrastructure, consumer, and personal computing markets. The company has a P/E ratio of 78.79.

TheStreet Ratings rates Intersil Corporation as a buy. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Intersil Corporation Ratings Report now.

Spectrum Brands Holdings

Owners of Spectrum Brands Holdings (NYSE: SPB) shares, as of market close today, will be eligible for a dividend of 30 cents per share. At a price of $86.15 as of 9:40 a.m. ET, the dividend yield is 1.4%.

The average volume for Spectrum Brands Holdings has been 266,400 shares per day over the past 30 days. Spectrum Brands Holdings has a market cap of $4.6 billion and is part of the consumer non-durables industry. Shares are up 21.6% 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.

Spectrum Brands Holdings, Inc., together with its subsidiaries, operates as a consumer products company worldwide. The company operates through Global Batteries & Appliances, Global Pet Supplies, Home and Garden Business, and Hardware & Home Improvement segments. The company has a P/E ratio of 35.55.

TheStreet Ratings rates Spectrum Brands Holdings as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, compelling growth in net income, solid stock price performance, impressive record of earnings per share growth and expanding profit margins. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full Spectrum Brands Holdings 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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