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. Acuity Brands, Inc.

Acuity Brands, Inc. (AYI ) offers a dividend yield of 0.26% based on yesterday’s closing price of $197.29 and pays a dividend of 52 cents. The stock is down 6.86% from its 52-week high. Dividend.com currently rates Acuity Brands, Inc. as “Recommended”, with a DARS™ rating of 3.4 stars out of 5 stars.

2. ConocoPhillips

ConocoPhillips (COP ) offers a dividend yield of 5.38% based on yesterday’s closing price of $55.04 and pays a dividend of $2.96. The stock is down 26.30% from its 52-week high. Dividend.com currently rates ConocoPhillips as “Recommended”, with a DARS™ rating of 3.4 stars out of 5 stars.

3. Graco Inc.

Graco Inc. (GGG ) offers a dividend yield of 1.71% based on yesterday’s closing price of $70.35 and pays a dividend of $1.20. The stock is down 14.35% from its 52-week high. Dividend.com currently rates Graco Inc. as “Recommended”, with a DARS™ rating of 3.4 stars out of 5 stars.

4. Hormel Foods Corporation

Hormel Foods Corporation (HRL ) offers a dividend yield of 1.52% based on yesterday’s closing price of $65.89 and pays a dividend of $1. The stock is down 0.98% from its 52-week high. Dividend.com currently rates Hormel Foods Corporation as “Recommended”, with a DARS™ rating of 3.4 stars out of 5 stars.

5. RPM International Inc.

RPM International Inc. (RPM ) offers a dividend yield of 2.50% based on yesterday’s closing price of $44 and pays a dividend of $1.10. The stock is down 15.34% from its 52-week high. Dividend.com currently rates RPM International Inc. as “Recommended”, with a DARS™ rating of 3.4 stars out of 5 stars.

6. EMCOR Group Inc.

EMCOR Group Inc. (EME ) offers a dividend yield of 0.69% based on yesterday’s closing price of $46.38 and pays a dividend of 32 cents. The stock is down 5.11% from its 52-week high. Dividend.com currently rates EMCOR Group Inc. as “Recommended”, with a DARS™ rating of 3.3 stars out of 5 stars.