Dividend Watch: 3 Stocks Going Ex-Dividend Tomorrow: TSLX, BTE, WSH

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, Friday, June 26, 2015, 128 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.2% to 35.1%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

TPG Specialty Lending

Owners of TPG Specialty Lending (NYSE: TSLX) shares, as of market close today, will be eligible for a dividend of 39 cents per share. At a price of $17.91 as of 9:39 a.m. ET, the dividend yield is 8.7%.

The average volume for TPG Specialty Lending has been 80,400 shares per day over the past 30 days. TPG Specialty Lending has a market cap of $972.0 million and is part of the real estate industry. Shares are up 7% year-to-date as of the close of trading on Wednesday.

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TPG Specialty Lending, Inc. is a business development company. The company has a P/E ratio of 10.17.

TheStreet Ratings rates TPG Specialty Lending as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share and unimpressive growth in net income. You can view the full TPG Specialty Lending Ratings Report now.

Baytex Energy

Owners of Baytex Energy (NYSE: BTE) shares, as of market close today, will be eligible for a dividend of 8 cents per share. At a price of $16.94 as of 9:41 a.m. ET, the dividend yield is 5.8%.

The average volume for Baytex Energy has been 741,200 shares per day over the past 30 days. Baytex Energy has a market cap of $2.8 billion and is part of the energy industry. Shares are up 0.5% year-to-date as of the close of trading on Wednesday.

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Baytex Energy Corp., an oil and gas company, engages in the acquisition, development, exploitation, and production of oil and natural gas in the Western Canadian Sedimentary Basin and the United States. The company offers heavy oil, light oil, condensate, and natural gas liquids.

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

Willis Group Holdings

Owners of Willis Group Holdings (NYSE: WSH) shares, as of market close today, will be eligible for a dividend of 31 cents per share. At a price of $46.85 as of 9:42 a.m. ET, the dividend yield is 2.6%.

The average volume for Willis Group Holdings has been 528,900 shares per day over the past 30 days. Willis Group Holdings has a market cap of $8.5 billion and is part of the insurance industry. Shares are up 6.3% year-to-date as of the close of trading on Wednesday.

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Willis Group Holdings Public Limited Company provides insurance brokerage, reinsurance, and risk management consulting services worldwide. The company has a P/E ratio of 26.46.

TheStreet Ratings rates Willis Group Holdings as a buy. Among the primary strengths of the company is its solid stock price performance. We feel its strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Willis Group Holdings 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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