Tomorrow, Thursday, April 28, 2016, 39 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.1% to 11%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

Western Gas Equity Partners

Owners of Western Gas Equity Partners (NYSE: WGP) shares, as of market close today, will be eligible for a dividend of 42 cents per share. At a price of $40.99 as of 9:36 a.m. ET, the dividend yield is 4.2%.

The average volume for Western Gas Equity Partners has been 227,800 shares per day over the past 30 days. Western Gas Equity Partners has a market cap of $8.9 billion and is part of the energy industry. Shares are up 10.5% year-to-date as of the close of trading on Tuesday.

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Western Gas Equity Partners, LP gathers, processes, compresses, treats, and transports natural gas, condensate, NGLs and crude oil primarily in the United States. The company has a P/E ratio of 41.72.

TheStreet Ratings rates Western Gas Equity Partners as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and generally higher debt management risk. You can view the full Western Gas Equity Partners Ratings Report now.

Shell Midstream Partners

Owners of Shell Midstream Partners (NYSE: SHLX) shares, as of market close today, will be eligible for a dividend of 24 cents per share. At a price of $36.59 as of 9:32 a.m. ET, the dividend yield is 2.3%.

The average volume for Shell Midstream Partners has been 616,300 shares per day over the past 30 days. Shell Midstream Partners has a market cap of $5.6 billion and is part of the energy industry. Shares are down 12.1% year-to-date as of the close of trading on Tuesday.

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Shell Midstream Partners, L.P. owns, operates, develops, and acquires pipelines and other midstream assets in the United States. The company owns interests in four crude oil pipeline systems and two refined products pipeline systems, as well as a crude tank storage and terminal system. The company has a P/E ratio of 32.40.

TheStreet Ratings rates Shell Midstream Partners as a sell. The company's weaknesses can be seen in multiple areas, such as its generally disappointing historical performance in the stock itself and generally high debt management risk. You can view the full Shell Midstream Partners Ratings Report now.

AES

Owners of AES (NYSE: AES) shares, as of market close today, will be eligible for a dividend of 11 cents per share. At a price of $11.30 as of 9:37 a.m. ET, the dividend yield is 4%.

The average volume for AES has been 5.6 million shares per day over the past 30 days. AES has a market cap of $7.3 billion and is part of the utilities industry. Shares are up 17.1% year-to-date as of the close of trading on Tuesday.

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The AES Corporation operates as a diversified power generation and utility company. It owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries. The company has a P/E ratio of 25.00.

TheStreet Ratings rates AES as a hold. Among the primary strengths of the company is its generally strong cash flow from operations. At the same time, however, we also find weaknesses including generally higher debt management risk, disappointing return on equity and poor profit margins. You can view the full AES 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.