Tomorrow, Friday, August 28, 2015, 51 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.3% to 19.7%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

TransAlta

Owners of TransAlta (NYSE: TAC) shares, as of market close today, will be eligible for a dividend of 14 cents per share. At a price of $5.04 as of 9:36 a.m. ET, the dividend yield is 11.8%.

The average volume for TransAlta has been 161,700 shares per day over the past 30 days. TransAlta has a market cap of $1.3 billion and is part of the utilities industry. Shares are down 44.9% year-to-date as of the close of trading on Wednesday.

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TransAlta Corporation operates as a non-regulated electricity generation and energy marketing company in Canada, the United States, and Western Australia. The company's Generation segment owns and operates hydro, wind, and natural gas- and coal-fired facilities. The company has a P/E ratio of 78.83.

TheStreet Ratings rates TransAlta as a sell. The company's weaknesses can be seen in multiple areas, such as its generally disappointing historical performance in the stock itself, unimpressive growth in net income and weak operating cash flow. You can view the full TransAlta Ratings Report now.

Flowers Foods

Owners of Flowers Foods (NYSE: FLO) shares, as of market close today, will be eligible for a dividend of 14 cents per share. At a price of $22.86 as of 9:35 a.m. ET, the dividend yield is 2.6%.

The average volume for Flowers Foods has been 720,500 shares per day over the past 30 days. Flowers Foods has a market cap of $4.7 billion and is part of the food & beverage industry. Shares are up 18.1% year-to-date as of the close of trading on Wednesday.

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Flowers Foods, Inc. produces and markets bakery products in the United States. It operates through two segments, Direct-Store-Delivery (DSD) and Warehouse Delivery. The DSD segment produces and markets fresh bakery foods, including fresh breads, buns, rolls, tortillas, and snack cakes. The company has a P/E ratio of 25.48.

TheStreet Ratings rates Flowers Foods as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels, expanding profit margins, good cash flow from operations and increase in net income. 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 Flowers Foods Ratings Report now.

Valspar

Owners of Valspar (NYSE: VAL) shares, as of market close today, will be eligible for a dividend of 30 cents per share. At a price of $74.56 as of 9:37 a.m. ET, the dividend yield is 1.6%.

The average volume for Valspar has been 518,000 shares per day over the past 30 days. Valspar has a market cap of $5.9 billion and is part of the chemicals industry. Shares are down 15.2% year-to-date as of the close of trading on Wednesday.

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The Valspar Corporation develops, manufactures, and distributes a range of coatings, paints, and related products worldwide. It operates in two segments, Coatings and Paints. The company has a P/E ratio of 15.46.

TheStreet Ratings rates Valspar as a buy. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, increase in net income, notable return on equity and expanding profit margins. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated. You can view the full Valspar 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.