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 November 27 as their ex-dividend date. All annual yields are estimated.
Great Plains Energy Incorporated (NYSE:GXP) yields 4.37% annually and has market cap of $3.07 billion. Great Plains Energy Incorporated, a public utility holding company, engages in the generation, transmission, distribution, and sale of electricity. It will pay a quarterly dividend of $0.2175 on December 20, and its quarterly yield will be 1.09% based on Wednesday?s closing price of $19.91. The company has paid a quarterly dividend since the end of 1987. The dividend is down from a high of $0.42.
Rockwood Holdings (NYSE:ROC) yields 3.20% annually and has a market cap of $3.42 billion. Rockwood Holdings, develops, manufactures, and markets specialty chemicals and materials for industrial and commercial applications primarily in Germany, the United States, and Europe. It will pay a quarterly dividend of $0.35 on December 18, and its quarterly yield will be 0.80% based on Wednesday?s closing price of $43.70. The company began paying a quarterly dividend this year.
Cisco Systems (NASDAQ:CSCO) yields 3.03% annually and has a market cap of $99.23 billion. Cisco Systems designs, manufactures, and sells Internet protocol (IP) based networking and other products related to the communications and information technology industries worldwide. It will pay a quarterly dividend of $0.14 on December 19, and its quarterly yield will be 0.76% based on Wednesday?s closing price of $18.48. The company has paid a quarterly dividend since 2011.
The author has a position in Cisco.
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