Ex-Dividend Alert: 3 Stocks Going Ex-Dividend Tomorrow: SPKE, PEI, WEN

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, Thursday, May 28, 2015, 57 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.3% to 12.7%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

Spark Energy

Owners of Spark Energy (NASDAQ: SPKE) shares, as of market close today, will be eligible for a dividend of 36 cents per share. At a price of $13.91 as of 9:30 a.m. ET, the dividend yield is 10.6%.

The average volume for Spark Energy has been 28,200 shares per day over the past 30 days. Spark Energy has a market cap of $42.6 million and is part of the utilities industry. Shares are down 0.3% year-to-date as of the close of trading on Tuesday.

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The company has a P/E ratio of 17.63.

Pennsylvania Real Estate Investment

Owners of Pennsylvania Real Estate Investment (NYSE: PEI) shares, as of market close today, will be eligible for a dividend of 21 cents per share. At a price of $22.86 as of 9:36 a.m. ET, the dividend yield is 3.7%.

The average volume for Pennsylvania Real Estate Investment has been 612,900 shares per day over the past 30 days. Pennsylvania Real Estate Investment has a market cap of $1.6 billion and is part of the real estate industry. Shares are down 2.8% year-to-date as of the close of trading on Tuesday.

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Pennsylvania Real Estate Investment Trust (PREIT) is a publicly owned equity real estate investment trust. The firm manages owns, manages, develops, acquires, and leases mall and power and strip centers primarily in the Eastern United States.

TheStreet Ratings rates Pennsylvania Real Estate Investment as a hold. Among the primary strengths of the company is its solid stock price performance. At the same time, however, we also find weaknesses including deteriorating net income, disappointing return on equity and poor profit margins. You can view the full Pennsylvania Real Estate Investment Ratings Report now.

Wendy's

Owners of Wendy's (NASDAQ: WEN) shares, as of market close today, will be eligible for a dividend of 6 cents per share. At a price of $11.35 as of 9:37 a.m. ET, the dividend yield is 1.9%.

The average volume for Wendy's has been 3.2 million shares per day over the past 30 days. Wendy's has a market cap of $4.1 billion and is part of the leisure industry. Shares are up 25.7% year-to-date as of the close of trading on Tuesday.

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The Wendy's Company, through its subsidiaries, owns and franchises Wendy's restaurant system. The company is involved in operating, developing, and franchising a system of quick-service restaurants. The company has a P/E ratio of 42.07.

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