3 Stocks Going Ex-Dividend Tomorrow: PBA, SMG, MHFI

Tomorrow, Tuesday, February 23, 2016, 17 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 1% to 10.5%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

Pembina Pipeline

Owners of Pembina Pipeline (NYSE: PBA) shares, as of market close today, will be eligible for a dividend of 11 cents per share. At a price of $24.77 as of 9:37 a.m. ET, the dividend yield is 5.4%.

The average volume for Pembina Pipeline has been 430,500 shares per day over the past 30 days. Pembina Pipeline has a market cap of $8.6 billion and is part of the energy industry. Shares are up 10.6% year-to-date as of the close of trading on Friday.

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Pembina Pipeline Corporation provides transportation and midstream services for the energy industry in North America. It operates through four businesses: Conventional Pipelines, Oil Sands & Heavy Oil, Gas Services, and Midstream. The company has a P/E ratio of 35.54.

TheStreet Ratings rates Pembina Pipeline as a hold. The company's strengths can be seen in multiple areas, such as its increase in net income, expanding profit margins and growth in earnings per share. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, generally higher debt management risk and disappointing return on equity. You can view the full Pembina Pipeline Ratings Report now.

Scotts Miracle Gro

Owners of Scotts Miracle Gro (NYSE: SMG) shares, as of market close today, will be eligible for a dividend of 47 cents per share. At a price of $67.55 as of 9:36 a.m. ET, the dividend yield is 2.8%.

The average volume for Scotts Miracle Gro has been 356,200 shares per day over the past 30 days. Scotts Miracle Gro has a market cap of $4.1 billion and is part of the chemicals industry. Shares are up 3.2% year-to-date as of the close of trading on Friday.

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The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products worldwide. The company has a P/E ratio of 26.13.

TheStreet Ratings rates Scotts Miracle Gro as a buy. Among the primary strengths of the company is its revenue growth. We feel its strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Scotts Miracle Gro Ratings Report now.

McGraw Hill Financial

Owners of McGraw Hill Financial (NYSE: MHFI) shares, as of market close today, will be eligible for a dividend of 36 cents per share. At a price of $89.63 as of 9:37 a.m. ET, the dividend yield is 1.6%.

The average volume for McGraw Hill Financial has been 1.4 million shares per day over the past 30 days. McGraw Hill Financial has a market cap of $23.3 billion and is part of the diversified services industry. Shares are down 10.8% year-to-date as of the close of trading on Friday.

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McGraw Hill Financial, Inc. provides benchmarks and ratings, analytics, data, and research services for the capital, commodities, and commercial markets worldwide. The company has a P/E ratio of 20.86.

TheStreet Ratings rates McGraw Hill Financial as a hold. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income and revenue growth. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk and a generally disappointing performance in the stock itself. You can view the full McGraw Hill Financial 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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