Tomorrow, Tuesday, March 08, 2016, 46 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.4% to 32.5%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

Calamos Dynamic Convertible and Income Fund

Owners of Calamos Dynamic Convertible and Income Fund (NASDAQ: CCD) shares, as of market close today, will be eligible for a dividend of 17 cents per share. At a price of $17.42 as of 9:36 a.m. ET, the dividend yield is 11.7%.

The average volume for Calamos Dynamic Convertible and Income Fund has been 141,700 shares per day over the past 30 days. Calamos Dynamic Convertible and Income Fund has a market cap of $419.2 million and is part of the financial services industry. Shares are down 4.8% year-to-date as of the close of trading on Friday.

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Scorpio Tankers

Owners of Scorpio Tankers (NYSE: STNG) shares, as of market close today, will be eligible for a dividend of 12 cents per share. At a price of $6.11 as of 9:37 a.m. ET, the dividend yield is 8.4%.

The average volume for Scorpio Tankers has been 2.7 million shares per day over the past 30 days. Scorpio Tankers has a market cap of $1.1 billion and is part of the transportation industry. Shares are down 24.8% year-to-date as of the close of trading on Friday.

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Scorpio Tankers Inc., together with its subsidiaries, engages in the seaborne transportation of refined petroleum products and crude oil worldwide. The company has a P/E ratio of 4.98.

TheStreet Ratings rates Scorpio Tankers as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, notable return on equity and attractive valuation levels. However, as a counter to these strengths, we find that the company has favored debt over equity in the management of its balance sheet. You can view the full Scorpio Tankers Ratings Report now.

Brocade Communications Systems

Owners of Brocade Communications Systems (NASDAQ: BRCD) shares, as of market close today, will be eligible for a dividend of 4 cents per share. At a price of $10.13 as of 9:36 a.m. ET, the dividend yield is 1.8%.

The average volume for Brocade Communications Systems has been 4.4 million shares per day over the past 30 days. Brocade Communications Systems has a market cap of $4.2 billion and is part of the computer hardware industry. Shares are up 11.6% year-to-date as of the close of trading on Friday.

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Brocade Communications Systems, Inc. provides storage area networking (SAN) and Internet protocol (IP) networking solutions for businesses and organizations worldwide. It operates through three segments: SAN Products, IP Networking Products, and Global Services. The company has a P/E ratio of 12.19.

TheStreet Ratings rates Brocade Communications Systems as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, notable return on equity, attractive valuation levels, impressive record of earnings per share growth 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 Brocade Communications Systems 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.