Tomorrow, Wednesday, September 30, 2015, 15 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.6% to 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:

Choice Hotels International

Owners of Choice Hotels International (NYSE: CHH) shares, as of market close today, will be eligible for a dividend of 20 cents per share. At a price of $46.46 as of 9:37 a.m. ET, the dividend yield is 1.6%.

The average volume for Choice Hotels International has been 208,100 shares per day over the past 30 days. Choice Hotels International has a market cap of $2.8 billion and is part of the leisure industry. Shares are down 16.8% year-to-date as of the close of trading on Monday.

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Choice Hotels International, Inc., together with its subsidiaries, operates as a hotel franchisor worldwide. It operates in two segments, Franchising and SkyTouch Technology. The company has a P/E ratio of 22.89.

TheStreet Ratings rates Choice Hotels International as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in net income, growth in earnings per share and expanding profit margins. We feel its strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Choice Hotels International Ratings Report now.

Banco Bilbao Vizcaya Argentaria

Owners of Banco Bilbao Vizcaya Argentaria (NYSE: BBVA) shares, as of market close today, will be eligible for a dividend of 7 cents per share. At a price of $8.39 as of 9:37 a.m. ET, the dividend yield is 4%.

The average volume for Banco Bilbao Vizcaya Argentaria has been 2.1 million shares per day over the past 30 days. Banco Bilbao Vizcaya Argentaria has a market cap of $52.5 billion and is part of the banking industry. Shares are down 12.7% year-to-date as of the close of trading on Monday.

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Corrections Corp of America

Owners of Corrections Corp of America (NYSE: CXW) shares, as of market close today, will be eligible for a dividend of 54 cents per share. At a price of $29.90 as of 9:35 a.m. ET, the dividend yield is 7%.

The average volume for Corrections Corp of America has been 818,100 shares per day over the past 30 days. Corrections Corp of America has a market cap of $3.6 billion and is part of the real estate industry. Shares are down 17.6% year-to-date as of the close of trading on Monday.

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Corrections Corporation of America, together with its subsidiaries, owns and operates privatized correctional and detention facilities in the United States. The company has a P/E ratio of 17.25.

TheStreet Ratings rates Corrections Corp of America as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, reasonable valuation levels, good cash flow from operations and growth in earnings per share. We feel its strengths outweigh the fact that the company shows low profit margins. You can view the full Corrections Corp of America 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.