Dividend stocks are proving increasingly attractive to investors these days due to the decline in interest rates and the recent reduction in the tax rate on most dividends. Also, investors like dividend stocks as long-term investments, as these dividend payments tend to protect the stock price from the market volatility that affects non-dividend paying stocks. However, careful analysis of dividend stocks and choosing the right dividend stocks at the right time is critical for investors.
In this article, I will focus on mid-cap stocks with a high dividend yield (above 3%) and their ex-dividend date within the next week (July 2 to July 6). These stocks have been screened based on the following criteria:
Security Type: Common Stock
Market Cap: Between $2 billion and $10 billion
Dividend Yield: Greater than or equal to 3%
Ex-Dividend Date: Between July 2, 2012 and July 6, 2012
1. Darden Restaurants Inc. (DRI): Darden Restaurants, Inc. operates full service restaurants in the United States and Canada. It operates restaurants under the Red Lobster, Olive Garden, LongHorn Steakhouse, The Capital Grille, Bahama Breeze, and Seasons 52 brand names. Darden Restaurants has a market cap of $6.4 billion and is currently trading around $50.04 with a 52 week range of $40.69 to $55.84. The dividend amount is 50 cents per share, which is 4% dividend yield. The Ex-Dividend date is July 06, 2012, Record date is July 10, 2012 and the dividend payout date is August 01, 2012. The stock has 9.78% price performance for the year 2012.
2. Erie Indemnity Company (ERIE): Erie Indemnity Company operates as a managing attorney for the Erie Insurance Exchange in the United States. The company provides sales, underwriting, and policy issuance services for the policyholders on behalf of the Erie Insurance Exchange. It operates 24 field offices in 11 states. Erie Indemnity has a market cap of $3.4 billion and is currently trading around $71.11 with a 52 week range of $62.62 to $81.41. The dividend amount is 55.25 cents per share which is 3.11% dividend yield. The Ex-Dividend date is July 03, 2012, Record date is July 06, 2012 and the dividend payout date is July 20, 2012. The stock has -9.02% price performance for the year 2012.
3. OGE Energy Corp (OGE): OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that offers physical delivery and related services for electricity and natural gas primarily in the south central United States. OGE Energy has a market cap of $5.1 billion and is currently trading around $51.36 with a 52 week range of $40.56 to $57.54. The dividend amount is 39.25 cents per share which is 3.06% dividend yield. The Ex-Dividend date is July 06, 2012, Record date is July 10, 2012 and the dividend payout date is July 30, 2012. The stock has -9.43% price performance for the year 2012.
Sources: Some of the data is sourced from Google Finance, Yahoo Finance, Fidelity and investor sites.
Additional Disclosure: I change my positions very frequently and may initiate either long or short positions in the above mentioned stocks at any time.
Disclaimer: I am not a registered investment advisor and do not provide specific investment advice. The information contained herein is for informational purposes only. Nothing in this article should be taken as a solicitation to purchase or sell securities. Before buying or selling any stock you should do your own research and reach your own conclusion. It is up to investors to make the correct decision after necessary research.