Dividends are an effective income generation tool for both short- and long-term investors. To capitalize on dividends, investors must ensure that they purchase the stock before the ex-dividend date and hold the stock through this period. Payments for dividends usually occur two to six weeks after the Ex-Date. For more information, check out Everything Investors Need to Know About Ex-Dividend Dates.

1. W. P. Carey Inc.

W. P. Carey Inc. (WPC ) offers a dividend yield of 6.47% based on yesterday’s closing price of $59.05 and pays a dividend of $3.82. The stock is down 20.07% from its 52-week high. Dividend.com currently rates W. P. Carey Inc. as “Recommended”, with a DARS™ rating of 3.5 stars out of 5 stars.

2. PG&E Corporation

PG&E Corporation (PCG ) offers a dividend yield of 3.50% based on yesterday’s closing price of $52 and pays a dividend of $1.82. The stock is down 13.64% from its 52-week high. Dividend.com currently rates PG&E Corporation as “Neutral”, with a DARS™ rating of 3.4 stars out of 5 stars.

3. Illinois Tool Works Inc.

Illinois Tool Works Inc. (ITW ) offers a dividend yield of 2.64% based on yesterday’s closing price of $83.21 and pays a dividend of $2.20. The stock is down 16.91% from its 52-week high. Dividend.com currently rates Illinois Tool Works Inc. as “Neutral”, with a DARS™ rating of 3.4 stars out of 5 stars.

4. The Dow Chemical Company

The Dow Chemical Company (DOW ) offers a dividend yield of 3.95% based on yesterday’s closing price of $42.58 and pays a dividend of $1.68. The stock is down 20.86% from its 52-week high. Dividend.com currently rates The Dow Chemical Company as “Neutral”, with a DARS™ rating of 3.4 stars out of 5 stars.

5. ACE Limited

ACE Limited (ACE ) offers a dividend yield of 2.64% based on yesterday’s closing price of $101.34 and pays a dividend of $2.68. The stock is down 14.04% from its 52-week high. Dividend.com currently rates ACE Limited as “Neutral”, with a DARS™ rating of 3.4 stars out of 5 stars.

6. Edison International

Edison International (EIX ) offers a dividend yield of 2.73% based on yesterday’s closing price of $61.08 and pays a dividend of $1.67. The stock is down 12.23% from its 52-week high. Dividend.com currently rates Edison International as “Neutral”, with a DARS™ rating of 3.4 stars out of 5 stars.