The stock market is approaching a new high and corporate profits are surpassing expectations. Many companies are returning some of their earnings to shareholders by paying dividends. Stocks with dividends provide extra incentives for shareholders because they make regular cash payouts.
The ex-dividend date tells traders which day they have to be holding the stock to be eligible for a dividend. Ex-dividend dates usually land a few weeks before the actual payment is made. In order to qualify, you need to be holding shares on the open of the ex-dividend date, so you need to buy them the day before to qualify for the payment. After the open, you can sell your shares and still be eligible to receive the payment.
For more on the latest dividend stocks and other income investments, check out all of the Dork’s top stocks lineups. See our top picks for the best dividend stocks here, and be sure to check out the Dork’s best cheap stocks.
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These stocks all have ex-dividend dates slotted for tomorrow, so you have to buy them today and hold them through tomorrow’s close if you want to receive the payment.
Stocks with Dividends Paying Tomorrow
A total of 23 companies are paying stock dividends tomorrow. However, the following five have the best yields for their shareholders.
Quad/Graphics Inc. (QUAD)
Quad/Graphics has the highest dividend yield of all the stocks with an ex-dividend date tomorrow. This Wisconsin-based printing company currently trades for $4.28 per share. The company’s dividends yield 14.05% annually, and the next payment will be $0.15 per share.
The dividend payout comes barely two weeks after the company reported abysmal third-quarter earnings. Quad saw its third-quarter sales drop to $944 million from $974 million in the same quarter last year.
Kenon Holdings Ltd. (KEN)
Kenon Holdings takes the number-two spot. It’s scheduled to pay $1.21 per share at its next dividend. Extrapolated annually, that adds up to a 10.32% annual dividend yield. The utility company is rallying as it approaches its ex-dividend date, it gained 2.3% in the pre-market trading session on Thursday.
The board of directors approved approximately $65 million payable to shareholders of record as stock dividends. The company is set to retain $28 million after stock dividend payments to tend to their cash needs.
Wayside Technology Group Inc. (WSTG)
Wayside will issue a stock dividend of $0.17 per share, yielding of 5.02% annually. Wayside’s stock is up by roughly 1% this week and could climb higher over the coming days.
The ex-dividend date comes barely ten days after the company reported its second-quarter earnings. Wayside reported a revenue increase of 9% to $52.4 million in Q2, higher than the $47.9 million recorded same time last year.
Ryder System Inc. (R)
Ryder’s ex-dividend date is also tomorrow. The company will pay out $0.56 per share with a 4.09% yield. This makes it the fourth-most highest dividend on deck for Friday. Despite its impressive yield, share prices tumbled recently and they’re down by roughly 8% since last week.
Ryder’s stock is expected to perform well in the coming weeks, with analysts rating it a ‘BUY’ from its previous average rating of ‘HOLD.’ The stock, which is trading at $51 on Thursday is expected to reach $65 per share.
The Southern Co. (SO)
The utility stock will name its dividend recipients tomorrow. Each will receive a payment of $0.62 per share in a few weeks. Projected annually, that’s a 4.01% yield. The stock currently trades for $61.91 per share, but it could spike on Thursday as investors try to get in for the ex-dividend date tomorrow.
Institutional investors are adding to their Southern positions. AlphaMark Advisors LLC bought an additional 516 Southern Co shares in the previous quarter. Similarly, Glassman Wealth Services increased its holding in the company by 10.5% in the third quarter of 2019 after buying 398 Southern Co shares.
More On Best Stocks with Dividends Payouts
Keeping track of stocks with dividends can help you discover more opportunities for yield. Building a strategy with dividend stocks is a great way to balance your portfolio with both income and growth.
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