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Owning rental property is a great thing. The real estate value may fluctuate, but whether it increases or decreases, the investor receives passive income from renters each month, regardless. The same applies with dividend stocks/ETFs. The stock/ETF will certainly fluctuate but investors can be confident that a dividend is coming their way, generally somewhat regularly.

These dividends are calculated on an annual basis, and are usually distributed quarterly. As an example, if a stock/ETF offers a 10% dividend yield, distributed quarterly, the investor will receive a 2.5% yield four times per year.

A stock's or ETF's ex-dividend date is the date that an investor must own the stock/ETF to be eligible for the dividend payout. Pay dates may be quarterly, monthly, annually, etc., and will differ with each stock/ETF. Ex-dividend dates will coincide with payouts, generally falling two to three weeks before the respective pay date. The investor must own the stock/ETF at the open of the session on the ex-dividend date to be eligible for the dividend payout. Below are three stocks with ex-dividend dates this week that offer over 10% annual dividend yields:

CPI Corp. (NYSE:CPY) currently yields 16.84% in dividends annually. Historically, this dividend is paid four times per year (quarterly) with its next pay date scheduled for December 5, 2011. Each investor will receive $0.25 for each share of stock owned. As CPI Corp. is currently trading at $5.94, a $0.25 dividend per share equates to a 4.21% quarterly dividend (16.84% annually, as mentioned above). The stock's ex-dividend date is November 23, 2011.

Dominion Resources Black Warrior Trust (NYSE:DOM) currently yields 10.49% in dividends annually. Historically, this dividend is paid four times per year (quarterly) as well, with its next pay date scheduled for December 9, 2011. Each investor will receive $0.2263 for each share of stock owned (slightly less that previous payouts this year). As Dominion Resources Black Warrior Trust is currently trading at $9.59, a $0.2263 dividend per share equates to a 2.36% quarterly dividend (10.49% annually, as mentioned above). The stock's ex-dividend date is November 25, 2011.

Star Bulk Carriers Corp. (NASDAQ:SBLK) currently yields 15.75% in dividends annually. Historically, this dividend is paid four times per year (quarterly) with its next pay date scheduled for December 6, 2011. Each investor will receive $0.05 for each share of stock owned. As Star Bulk Carriers Corp. is currently trading at $1.27, a $0.05 dividend per share equates to a 3.94% quarterly dividend (15.75% annually, as mentioned above). The stock's ex-dividend date is November 25, 2011.

Source: 3 Stocks Yielding Over 10% With Ex-Dividend Dates This Week

Additional disclosure: All stocks mentioned above are offered as speculation only. Please note that dividend payouts immediately decrease company value and will generally affect stock price on or around the ex-dividend date. It is recommended, therefore, that investors perform sufficient fundamental analysis before entering positions.