Ex-Dividend Alert: 3 Stocks Going Ex-Dividend Tomorrow: HEP, SHLX, PBCT

Tomorrow, Thursday, July 28, 2016, 36 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.7% to 17.1%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

Holly Energy Partners

Owners of Holly Energy Partners (NYSE: HEP) shares, as of market close today, will be eligible for a dividend of 58 cents per share. At a price of $35.77 as of 9:30 a.m. ET, the dividend yield is 6.4%.

The average volume for Holly Energy Partners has been 122,100 shares per day over the past 30 days. Holly Energy Partners has a market cap of $2.1 billion and is part of the energy industry. Shares are up 13.9% year-to-date as of the close of trading on Tuesday.

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Holly Energy Partners, L.P. owns and operates petroleum product and crude pipelines, storage tanks, distribution terminals, and loading rack facilities. The company has a P/E ratio of 20.86.

TheStreet Ratings rates Holly Energy Partners as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, expanding profit margins, solid stock price performance and impressive record of earnings per share growth. 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 Holly Energy 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 25 cents per share. At a price of $32.70 as of 9:35 a.m. ET, the dividend yield is 2.8%.

The average volume for Shell Midstream Partners has been 775,200 shares per day over the past 30 days. Shell Midstream Partners has a market cap of $5.5 billion and is part of the energy industry. Shares are down 21.2% 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 24.49.

TheStreet Ratings rates Shell Midstream Partners as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and notable return on equity. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year. You can view the full Shell Midstream Partners Ratings Report now.

People's United Financial

Owners of People's United Financial (NASDAQ: PBCT) shares, as of market close today, will be eligible for a dividend of 17 cents per share. At a price of $15.36 as of 9:36 a.m. ET, the dividend yield is 4.4%.

The average volume for People's United Financial has been 4.4 million shares per day over the past 30 days. People's United Financial has a market cap of $4.8 billion and is part of the banking industry. Shares are down 5.1% year-to-date as of the close of trading on Tuesday.

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People's United Financial, Inc. operates as the bank holding company for People's United Bank, National Association that provides commercial banking, retail banking, and wealth management services to individual, corporate, and municipal customers. The company has a P/E ratio of 17.09.

TheStreet Ratings rates People's United Financial as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, increase in net income, expanding profit margins and notable return on equity. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full People's United 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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