3 Stocks With Upcoming Ex-Dividend Dates: TAC, IBKR, CTB

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:

TransAlta

Owners of TransAlta (NYSE: TAC) shares, as of market close today, will be eligible for a dividend of 15 cents per share. At a price of $8.77 as of 9:36 a.m. ET, the dividend yield is 6.6%.

The average volume for TransAlta has been 148,500 shares per day over the past 30 days. TransAlta has a market cap of $2.5 billion and is part of the utilities industry. Shares are down 3.3% year-to-date as of the close of trading on Tuesday.

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TransAlta Corporation operates as a non-regulated electricity generation and energy marketing company in Canada, the United States, and Western Australia. The company's Generation segment owns and operates hydro, wind, and natural gas- and coal-fired facilities. The company has a P/E ratio of 30.97.

TheStreet Ratings rates TransAlta as a sell. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, weak operating cash flow, generally disappointing historical performance in the stock itself and generally high debt management risk. You can view the full TransAlta Ratings Report now.

Interactive Brokers Group

Owners of Interactive Brokers Group (NASDAQ: IBKR) shares, as of market close today, will be eligible for a dividend of 10 cents per share. At a price of $35.71 as of 9:34 a.m. ET, the dividend yield is 1.1%.

The average volume for Interactive Brokers Group has been 398,000 shares per day over the past 30 days. Interactive Brokers Group has a market cap of $2.1 billion and is part of the financial services industry. Shares are up 22.7% year-to-date as of the close of trading on Tuesday.

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Interactive Brokers Group, Inc. operates as an automated electronic broker and market maker in the United States and internationally. The company has a P/E ratio of 170.52.

TheStreet Ratings rates Interactive Brokers Group as a hold. The company's strengths can be seen in multiple areas, such as its solid stock price performance, good cash flow from operations and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and feeble growth in the company's earnings per share. You can view the full Interactive Brokers Group Ratings Report now.

Cooper Tire & Rubber

Owners of Cooper Tire & Rubber (NYSE: CTB) shares, as of market close today, will be eligible for a dividend of 10 cents per share. At a price of $37.32 as of 9:36 a.m. ET, the dividend yield is 1.1%.

The average volume for Cooper Tire & Rubber has been 1.0 million shares per day over the past 30 days. Cooper Tire & Rubber has a market cap of $2.1 billion and is part of the consumer non-durables industry. Shares are up 7.9% year-to-date as of the close of trading on Tuesday.

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Cooper Tire & Rubber Company, together with its subsidiaries, manufactures and markets replacement tires worldwide. The company operates in two segments, Americas Tire Operations and International Tire Operations. The company has a P/E ratio of 10.95.

TheStreet Ratings rates Cooper Tire & Rubber as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, good cash flow from operations 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 Cooper Tire & Rubber 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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