3 Stocks Going Ex-Dividend Tomorrow: IRT, EBIX, LXK

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.

Tomorrow, Wednesday, May 27, 2015, 79 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.1% to 14.6%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

Independence Realty

Owners of Independence Realty (AMEX: IRT) shares, as of market close today, will be eligible for a dividend of 6 cents per share. At a price of $8.85 as of 9:36 a.m. ET, the dividend yield is 8.2%.

The average volume for Independence Realty has been 136,700 shares per day over the past 30 days. Independence Realty has a market cap of $281.3 million and is part of the real estate industry. Shares are down 5.3% year-to-date as of the close of trading on Friday.

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Independence Realty Trust, Inc is an equity real estate investment trust launched by RAIT Financial Trust. It is managed by Independence Realty Advisors, LLC. The fund invests in the real estate markets of the United States. It makes investments in apartment properties to create its portfolio.

TheStreet Ratings rates Independence Realty as a sell. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, poor profit margins, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share. You can view the full Independence Realty Ratings Report now.

Ebix

Owners of Ebix (NASDAQ: EBIX) shares, as of market close today, will be eligible for a dividend of 8 cents per share. At a price of $36.85 as of 9:36 a.m. ET, the dividend yield is 0.8%.

The average volume for Ebix has been 463,900 shares per day over the past 30 days. Ebix has a market cap of $1.3 billion and is part of the computer software & services industry. Shares are up 117.4% year-to-date as of the close of trading on Friday.

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Ebix, Inc. provides software and e-commerce solutions to the insurance industry. The company has a P/E ratio of 20.75.

TheStreet Ratings rates Ebix as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and notable return on equity. We feel its strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Ebix Ratings Report now.

Lexmark International

Owners of Lexmark International (NYSE: LXK) shares, as of market close today, will be eligible for a dividend of 36 cents per share. At a price of $45.92 as of 9:36 a.m. ET, the dividend yield is 3.1%.

The average volume for Lexmark International has been 809,800 shares per day over the past 30 days. Lexmark International has a market cap of $2.8 billion and is part of the computer hardware industry. Shares are up 11.1% year-to-date as of the close of trading on Friday.

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Lexmark International, Inc., together with its subsidiaries, operates as a developer, manufacturer, and supplier of printing, imaging, device management, managed print services (MPS), document workflow, and business process and content management solutions worldwide. The company has a P/E ratio of 41.31.

TheStreet Ratings rates Lexmark International as a buy. The company's strengths can be seen in multiple areas, such as its expanding profit margins, largely solid financial position with reasonable debt levels by most measures and increase in stock price during the past year. We feel its strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Lexmark International 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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