Dividend Watch: 3 Stocks Going Ex-Dividend Monday: CCD, CNO, GME

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.

Monday, Monday, June 08, 2015, 36 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.2% to 9.6%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Monday:

Calamos Dynamic Convertible and Income Fund

Owners of Calamos Dynamic Convertible and Income Fund (NASDAQ: CCD) shares, as of market close today, will be eligible for a dividend of 17 cents per share. At a price of $24.51 as of 9:30 a.m. ET, the dividend yield is 8.3%.

The average volume for Calamos Dynamic Convertible and Income Fund has been 105,200 shares per day over the past 30 days. Calamos Dynamic Convertible and Income Fund has a market cap of $590.2 million and is part of the financial services industry. Shares are unchanged year-to-date as of the close of trading on Thursday.

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CNO Financial Group

Owners of CNO Financial Group (NYSE: CNO) shares, as of market close today, will be eligible for a dividend of 7 cents per share. At a price of $18.23 as of 9:41 a.m. ET, the dividend yield is 1.5%.

The average volume for CNO Financial Group has been 2.0 million shares per day over the past 30 days. CNO Financial Group has a market cap of $3.6 billion and is part of the insurance industry. Shares are up 5.6% year-to-date as of the close of trading on Thursday.

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CNO Financial Group, Inc., through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, and other insurance products for senior and middle-income markets in the United States. The company has a P/E ratio of 12.01.

TheStreet Ratings rates CNO Financial Group as a buy. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, solid stock price performance, attractive valuation levels, good cash flow from operations and impressive record of earnings per share growth. We feel its strengths outweigh the fact that the company shows low profit margins. You can view the full CNO Financial Group Ratings Report now.

GameStop

Owners of GameStop (NYSE: GME) shares, as of market close today, will be eligible for a dividend of 36 cents per share. At a price of $43.80 as of 9:41 a.m. ET, the dividend yield is 3.3%.

The average volume for GameStop has been 1.8 million shares per day over the past 30 days. GameStop has a market cap of $4.7 billion and is part of the retail industry. Shares are up 30.2% year-to-date as of the close of trading on Thursday.

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GameStop Corp. operates as a multichannel video game retailer. The company has a P/E ratio of 12.18.

TheStreet Ratings rates GameStop as a buy. The company's strengths can be seen in multiple areas, such as its increase in stock price during the past year, impressive record of earnings per share growth, increase in net income, revenue growth and attractive valuation levels. We feel its strengths outweigh the fact that the company shows low profit margins. You can view the full GameStop 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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