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 1 as their ex-dividend date. All annual yields are estimated.
CMS Energy Group (NYSE:CMS) yields 3.52% annually and has a market cap of $7.68 billion. The Michigan-based energy company will pay a quarterly dividend of $0.255 on May 31, and its quarterly yield will be 0.88% based on yesterday?s closing price of $29. The company first paid a quarterly dividend from 1989 through 2002 and resumed paying a quarterly dividend in 2007.
Ford (NYSE:F) yields 2.99% annually and has market cap of $52.40 billion. The global provider of vehicles and vehicle parts will pay a quarterly dividend of $0.10 on June 3, and the quarterly yield will be 0.75% based on yesterday?s closing price of $13.36. The company first paid a quarterly dividend from 1956 through 2006, except for 1982, and resumed paying a quarterly dividend in 2012.
Credit Suisse Group (NYSE:CS) yields 2.81% annually and has a market cap of $36.39 billion. The global provider of financial services will pay an annual dividend of $0.7878 on May 20. The company has paid a dividend since 2002.
PetSmart (NASDAQ:PETM) yields 0.98% annually and has a market cap $6.89 billion. The North American specialty retailer for pets will pay a quarterly dividend of $0.165 on May 17, and the quarterly yield will be 0.25% based on yesterday?s closing price of $67.14. The company has paid a quarterly dividend since the end of 2003.
Itau Unibanco Holding S.A. (NYSE:ITUB) yields 0.54% annually and has a market cap of $75.01 billion. The global provider of credit and financial services will pay a monthly dividend of $0.0075 on June 13, and its monthly yield will be 0.045% based on yesterday?s closing price of $16.60. The company has paid a monthly dividend since 2002.
These companies also have their ex-dividend date on May 1. All annual yields are estimated.
National Penn Bancshares (NASDAQ:NPBC) yields 4.11% annually and will pay a quarterly dividend of $0.10 on May 17.
Tesoro Logistics (NYSE:TLLP) yields 3.62% annually and will pay a quarterly dividend of $0.49 on May 14.
Capitol Federal Financial (NASDAQ:CFFN) yields 2.53% annually and will pay a quarterly dividend of $0.075 on May 17.
Enersis S.A. (NYSE:ENI) yields 2.23% annually and will pay a semi-annual dividend of $0.3201, but the pay date has not been announced yet.
Signet Jewelers (NYSE:SIG) yields 0.89% annually and will pay a quarterly dividend of $0.15 on May 29.
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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