A stock must be bought one day before the ex-dividend date to claim any dividends that have been announced but not yet paid. The company determines on the record date, which usually occurs two days after the ex-dividend date, which shareholders qualify for the dividend. Shareholders listed as holders of record after the record date then receive their dividend on the date of payment established by the company. Those purchasing right before the record date forfeit the dividend and normally get the stock for a reduced amount.
It may seem an anachronism in this era of high frequency trading, but the dividend rate rules are in force since it can still take up to three business days for transactions to be credited to and settled in an investor?s account.
Below are five stocks that schedule May 9 as their ex-dividend date. All annual yields are estimated.
Exxon Mobil (NYSE:XOM) yields 2.88% annually and has a market cap of $389.07 billion. The oil and natural gas producer will pay a quarterly dividend of $0.63 on June 10, and the quarterly yield will be 0.72% based on yesterday?s closing price of $87.51. The company has paid a quarterly dividend since 1970, and each dividend payment has either increased or remained the same from the prior quarter.
Apple (NASDAQ:AAPL) yields 2.78% annually and has a market cap of $412.34 billion. The technology company will pay a quarterly dividend of $3.05 on May 16, and the quarterly yield will be 0.69% based on yesterday?s closing price of $439.29. The company first a quarterly dividend from 1987 through 1995 and resumed paying a quarterly dividend last year.
Rockwell Automation (NYSE:ROK) yields 2.53% annually and has a market cap of $11.67 billion. The provider of industrial automation solutions will pay a quarterly dividend of $0.52 on June 10, and its quarterly yield will be 0.63% based on yesterday?s closing price of $82.32. The company has paid a quarterly dividend since 1982.
Rockwell Collins (NYSE:COL) yields 1.92% annually and has a market cap of $8.47 billion. The producer of communications and aviation electronics will pay a quarterly dividend of $0.30 on June 3, and the quarterly yield of the dividend will be 0.48% based on yesterday?s closing price of $62.44. The company has paid a quarterly dividend since 2001, and each dividend payment has either increased or remained the same from the prior quarter.
W.W. Grainger (NYSE:GWW) yields 1.54% annually and has a market cap of $16.75 billion. The distributor of maintenance, repair, and operating supplies will pay a quarterly dividend of $0.93 on June 1, and the quarterly yield will be 0.39% based on yesterday?s closing price of $240.90. The company has paid a quarterly dividend since 1985, and each dividend payment has either increased or remained the same from the prior quarter.
These companies also have their ex-dividend date on May 9. All annual yields are estimated.
US Global Investors (NASDAQ:GROW) yields 8.48% annually and will pay a monthly dividend of $0.005 on May 28.
Alliance Holdings GP (NASDAQ:AGHP) yields 5.07% annually and will pay a quarterly dividend of $0.7625 on May 20.
Enterprise Bancorp (NASDAQ:EBTC) yields 2.95% annually and will pay a quarterly dividend of $0.115 on June 3.
Simplicity Bancorp (NASDAQ:SMPL) yields 2.21% annually and will pay a quarterly dividend of $0.08 on May 28.
National Instruments Corporation (NASDAQ:NATI) yields 2.08% annually and will pay a quarterly dividend of $0.14 on June 3.
Purchase -- and have your broker settle -- before the ex-dividend date to secure the dividend.
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Twitter: @ChrisWitrakNo positions in stocks mentioned.
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