3 Stocks Going Ex-Dividend Tomorrow: SUNS, PRA, POR

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, Tuesday, June 23, 2015, 12 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.1% to 8.6%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

Solar Senior Capital

Owners of Solar Senior Capital (NASDAQ: SUNS) shares, as of market close today, will be eligible for a dividend of 12 cents per share. At a price of $16.44 as of 9:36 a.m. ET, the dividend yield is 8.6%.

The average volume for Solar Senior Capital has been 36,000 shares per day over the past 30 days. Solar Senior Capital has a market cap of $190.0 million and is part of the financial services industry. Shares are up 10% year-to-date as of the close of trading on Friday.

EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he thinks could be potential winners. Click here to see his holdings for 14-days FREE.

Solar Senior Capital Ltd. is a business development company specializing in investments in leveraged, middle-market companies in the United States. The fund invests in the form of senior secured loans, including first lien, unitranche, and second lien debt instruments. The company has a P/E ratio of 14.20.

TheStreet Ratings rates Solar Senior Capital as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins and increase in net income. We feel its strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full Solar Senior Capital Ratings Report now.

Proassurance

Owners of Proassurance (NYSE: PRA) shares, as of market close today, will be eligible for a dividend of 31 cents per share. At a price of $47.04 as of 9:35 a.m. ET, the dividend yield is 2.6%.

The average volume for Proassurance has been 224,600 shares per day over the past 30 days. Proassurance has a market cap of $2.6 billion and is part of the insurance industry. Shares are up 3.8% year-to-date as of the close of trading on Friday.

EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he thinks could be potential winners. Click here to see his holdings for 14-days FREE.

ProAssurance Corporation, an insurance holding company, provides property and casualty insurance, and reinsurance products in the United States. The company operates through four segments: Specialty Property and Casualty, Workers' Compensation, Lloyd's Syndicate, and Corporate. The company has a P/E ratio of 14.59.

TheStreet Ratings rates Proassurance as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and increase in stock price during the past year. We feel its strengths outweigh the fact that the company has had somewhat weak growth in earnings per share. You can view the full Proassurance Ratings Report now.

Portland General Electric

Owners of Portland General Electric (NYSE: POR) shares, as of market close today, will be eligible for a dividend of 30 cents per share. At a price of $34.14 as of 9:35 a.m. ET, the dividend yield is 3.5%.

The average volume for Portland General Electric has been 689,900 shares per day over the past 30 days. Portland General Electric has a market cap of $2.7 billion and is part of the utilities industry. Shares are down 9.5% year-to-date as of the close of trading on Friday.

EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he thinks could be potential winners. Click here to see his holdings for 14-days FREE.

Portland General Electric Company, an integrated electric utility, engages in the generation, purchase, transmission, distribution, and retail sale of electricity in the state of Oregon. The company has a P/E ratio of 16.50.

TheStreet Ratings rates Portland General Electric as a buy. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels 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 Portland General Electric 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.

More from Markets

Video: When Planning for Retirement, Don't Underestimate Your Life Span

Video: When Planning for Retirement, Don't Underestimate Your Life Span

Video: Here's What May Come Next for Theranos Founder and CEO Elizabeth Holmes

Video: Here's What May Come Next for Theranos Founder and CEO Elizabeth Holmes

Charlie Gasparino Says GE Is Reportedly Looking to Slash Its Dividend Again

Charlie Gasparino Says GE Is Reportedly Looking to Slash Its Dividend Again

GE Confirms $11.1 Billion Transportation Merger With Wabtec

GE Confirms $11.1 Billion Transportation Merger With Wabtec

Dow Leads Major Indices With Triple-Digit Rally

Dow Leads Major Indices With Triple-Digit Rally