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, July 02, 2015, 5 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 2.1% to 8.3%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

John Wiley & Sons

Owners of John Wiley & Sons (NYSE: JW.A) shares, as of market close today, will be eligible for a dividend of 30 cents per share. At a price of $54.50 as of 9:32 a.m. ET, the dividend yield is 2.2%.

The average volume for John Wiley & Sons has been 202,300 shares per day over the past 30 days. John Wiley & Sons has a market cap of $2.7 billion and is part of the media industry. Shares are down 8.2% year-to-date as of the close of trading on Tuesday.

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John Wiley & Sons, Inc. provides knowledge and knowledge-enabled services in the areas of research, professional practice, and education worldwide. It operates in three segments: Research, Professional Development, and Education. The company has a P/E ratio of 18.38.

TheStreet Ratings rates John Wiley & Sons as a buy. The company's strengths can be seen in multiple areas, such as its increase in net income, notable return on equity, reasonable valuation levels, expanding profit margins and good cash flow from operations. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full John Wiley & Sons Ratings Report now.

Kite Realty Group

Owners of Kite Realty Group (NYSE: KRG) shares, as of market close today, will be eligible for a dividend of 27 cents per share. At a price of $24.51 as of 9:36 a.m. ET, the dividend yield is 4.4%.

The average volume for Kite Realty Group has been 559,900 shares per day over the past 30 days. Kite Realty Group has a market cap of $2.1 billion and is part of the real estate industry. Shares are down 14.9% year-to-date as of the close of trading on Tuesday.

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Kite Realty Group Trust is a publicly owned real estate investment trust. The firm invests in real estate markets of the United States.

TheStreet Ratings rates Kite Realty Group as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, increase in stock price during the past year and increase in net income. However, as a counter to these strengths, we find that the company's profit margins have been poor overall. You can view the full Kite Realty Group Ratings Report now.

Mobile Telesystems OJSC

Owners of Mobile Telesystems OJSC (NYSE: MBT) shares, as of market close today, will be eligible for a dividend of 57 cents per share. At a price of $9.89 as of 9:36 a.m. ET, the dividend yield is 8.3%.

The average volume for Mobile Telesystems OJSC has been 2.1 million shares per day over the past 30 days. Mobile Telesystems OJSC has a market cap of $9.5 billion and is part of the telecommunications industry. Shares are up 36.2% year-to-date as of the close of trading on Tuesday.

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The company has a P/E ratio of 9.33.

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.