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 December 14 as their ex-dividend date. All annual yields are estimated.
Apollo Investment Corporation (NASDAQ:AINV) yields 9.74% annually and has a market cap of $1.67 billion. Apollo Investment Corporation is a business development company and operates as a closed-end management investment company. It will pay a quarterly dividend of $0.20 on January 4, and its quarterly yield will be 2.44% based on Friday?s closing price of $8.21. The company has paid a quarterly dividend since the second half of 2004. The dividend is down from a high of $0.28 in 2011.
Covanta Holding Corporation (NYSE:CVA) yields 3.21% annually and has a market cap of $2.46 billion. Covanta Holding Corporation, through its subsidiaries, provides waste and energy services to municipal entities primarily in North America. It will pay a quarterly dividend of $0.15 on December 26, and its quarterly yield will be 0.80% based on Friday?s closing price of $18.71. The company has paid a quarterly dividend since 2011.
Huntington Bancshares Incorporated (NASDAQ:HBAN) yields 2.59% annually and has a market cap of $5.27 billion. Huntington Bancshares Incorporated operates as the holding company for The Huntington National Bank, which provides commercial, small business, and consumer banking services. It will pay a quarterly dividend of $0.04 on January 2, and its quarterly yield will be 0.65% based on Friday?s closing price of $6.18. The company has paid a quarterly dividend since the second half of 1990. The dividend is down from a high of $0.27 in 2008.
Allied World Assurance Company Holdings (NYSE:AWH) yields 1.83% annually and has a market cap of $2.90 billion. Allied World Assurance Company Holdings, AG operates as a specialty insurance and reinsurance company in Bermuda, Hong Kong, Ireland, Singapore, Switzerland, the United Kingdom, and the United States. It will pay a quarterly dividend of $0.375 on December 26, and its quarterly yield will be 0.46% based on Friday?s closing price of $81.98. The company has paid a quarterly dividend since the end of 2006.
Primoris Services Corporation (NASDAQ:PRIM) yields 0.83% annually and has a market cap of $743.07 million. Primoris Services Corporation, a specialty contractor and infrastructure company, provides a range of construction, fabrication, maintenance, replacement, water and wastewater, and product engineering services in the United States and internationally. It will pay a quarterly dividend of $0.03 on December 26, and its quarterly yield will be 0.21% based on Friday?s closing price of $14.50. The company has paid a quarterly dividend since the second half of 2008.
These companies also have their ex-dividend date on December 14. All annual yields are estimated.
Altra Holdings (NASDAQ:AIMC) yields 1.19% annually and will pay a quarterly dividend of $0.06 on December 26.
Navios Maritime (NYSE:NM) yields 6.45% annually and will pay a quarterly dividend of $0.06 on December 27.
First M&F Corporation (NASDAQ:FMFC) yields 0.61% annually and will pay a quarterly dividend of $0.01 on December 31.
Purchase -- and have your broker settle -- before the ex-dividend date to secure the dividend.
Twitter: @ChrisWitrak
No positions in stocks mentioned.
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