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 four stocks that schedule January 3 as their ex-dividend date. All annual yields are estimated.
Waddell & Reed Financial (NYSE:WDR) yields 3.22% annually and has a market cap of $2.98 billion. Waddell & Reed Financial, through its subsidiaries, provides investment management, investment product underwriting and distribution, and shareholder services administration to mutual funds, and institutional and separately managed accounts in the United States. It will pay a quarterly dividend of $0.28 on February 1, and its quarterly yield will be 0.80% based on Monday?s closing price of $34.82. The company has paid a quarterly dividend since 1998, and each dividend payment has either increased or remained the same from the prior quarter.
Quest Diagnostics (NYSE:DGX) yields 2.06% annually and has a market cap of $9.26 billion. Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. It will pay a quarterly dividend of $0.30, on January 28. The quarterly yield will be 0.0051% based on Monday?s closing price of $58.27. The company has paid a quarterly dividend since 2004, and each dividend payment has either increased or remained the same from the prior quarter.
Yum Brands (NYSE:YUM) yields 2.02% annually and has a market cap of $30 billion. Yum Brands, together with its subsidiaries, operates quick service restaurants in the United States and internationally. It will pay a quarterly dividend of $0.335 on February 1 and its quarterly yield will be 0.50% based on Monday?s closing price of $66.40. The company has paid a quarterly dividend since the second half of 2004, and each dividend payment has either increased or remained the same from the prior quarter.
IDEX Corporation (NYSE:IEX) yields 1.72% annually and has a market cap of $3.85 billion. IDEX Corporation manufactures and sells various pumps, flow meters, other fluidics systems and components, and engineered products worldwide. It will pay a quarterly dividend of $0.20 on January 31, and its quarterly yield will be 0.43% based on Monday?s closing price of $46.53. The company has paid a quarterly dividend since 1995, and each dividend payment has either increased or remained the same from the prior quarter.
Compa??a Cervecerias Unidas S.A. (NYSE:CCU) yields 1.01% annually and has a market cap of $2.01 billion. Compa??a Cervecer?as Unidas S.A., through its subsidiaries, produces, bottles, sells, and distributes beverages primarily in Chile and Argentina. It will pay a semi-annual dividend of $0.1616, but the payment date hasn?t been announced yet. The semi-annual yield of this dividend will be 0.51% based on Monday?s closing price of $31.63. The company has either paid an annual or semi-annual dividend since 1993.
These companies also have their ex-dividend date on January 9. All annual yields are estimated.
A. H. Belo Corporation (NYSE:AHC) yields 4.95% annually and will pay a quarterly dividend of $0.06 on February 1.
Bank of Kentucky Financial Corporation (NASDAQ:BKYF) yields 2.75% annually and will pay a quarterly dividend of $0.17 on January 25.
Pathfinder Bancorp (NASDAQ:PBHC) yields 1.17% annually and will pay a quarterly dividend of $0.03 on January 31.
Twitter: @ChrisWitrak
No positions in stocks mentioned.
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