3 Stocks With Upcoming Ex-Dividend Dates: HNP, UFS, HDB

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 30, 2015, 23 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.6% to 17%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

Huaneng Power International

At a price of $54.71 as of 9:34 a.m. ET, the dividend yield is 7.9%.

The average volume for Huaneng Power International has been 73,100 shares per day over the past 30 days. Huaneng Power International has a market cap of $20.0 billion and is part of the utilities industry. Shares are down 1.5% year-to-date as of the close of trading on Friday.

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Huaneng Power International, Inc., an independent power producer, generates and sells electricity and heat to the regional or provincial grid companies in the People's Republic of China and Singapore. The company has a P/E ratio of 138.68.

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

Domtar

Owners of Domtar (NYSE: UFS) shares, as of market close today, will be eligible for a dividend of 40 cents per share. At a price of $43.56 as of 9:36 a.m. ET, the dividend yield is 3.7%.

The average volume for Domtar has been 568,300 shares per day over the past 30 days. Domtar has a market cap of $2.8 billion and is part of the consumer non-durables industry. Shares are up 8.8% year-to-date as of the close of trading on Friday.

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Domtar Corporation designs, manufactures, markets, and distributes communications papers, specialty and packaging papers, and absorbent hygiene products in the United States, Canada, Europe, Asia, and internationally. It operates in two segments, Pulp and Paper, and Personal Care. The company has a P/E ratio of 6.54.

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

HDFC Bank

Owners of HDFC Bank (NYSE: HDB) shares, as of market close today, will be eligible for a dividend of 35 cents per share. At a price of $60.35 as of 9:36 a.m. ET, the dividend yield is 0.6%.

The average volume for HDFC Bank has been 820,000 shares per day over the past 30 days. HDFC Bank has a market cap of $49.5 billion and is part of the banking industry. Shares are up 20.7% year-to-date as of the close of trading on Friday.

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HDFC Bank Limited, together with its subsidiaries, provides a range of banking and financial services to individuals and businesses in India, as well as in Bahrain and Hong Kong. The company operates in four segments: Retail Banking, Wholesale Banking, Treasury, and Other Banking Operations. The company has a P/E ratio of 38.01.

TheStreet Ratings rates HDFC Bank 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, impressive record of earnings per share growth and notable return on equity. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full HDFC Bank 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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