4 Dividend Stocks to Buy by Aug. 11: They Pay by Sept. 1, but Each Has a Catch
Dividend investors looking for a quick payout have a narrow window closing this week. Four companies — First Business Financial Services (NASDAQ: FBIZ), FTAI Aviation (NASDAQ: FTAI), Western New England Bancorp (NASDAQ: WNEB), and Winmark (NASDAQ: WINA) — all share a record date of Wednesday, Aug. 12, 2026. Under T+1 settlement, they also trade ex-dividend that day. To receive the upcoming payment, investors must buy shares no later than Tuesday, Aug. 11. Buy on the ex-date or after, and the seller keeps the check.
The difference between the ex-dividend date and the pay date is simple but unforgiving. The ex-date determines who is entitled to the dividend; the pay date is just when the cash lands in the account, usually a couple of weeks later. With T+1 settlement, the schedule has tightened, so there is no grace period for late trades.
Investors sometimes chase dividend capture by buying before the ex-date and selling after. It rarely works as cleanly as it seems because the stock price is typically adjusted lower by the dividend. In these four cases, the more important question is whether each payment is worth the risk that comes with it.
First Business Financial Services
FBIZ declared a quarterly dividend of $0.34 per share on July 30, 2026, payable Aug. 26. The Wisconsin-based commercial bank has been one of the stronger performers in this group, with shares up 32.6% year to date and 53.6% over the past year. The payout is well covered. Management pegged the dividend at roughly 18% of Q2 2026 EPS, and diluted EPS of $1.84 beat the $1.56 consensus. Net interest margin widened to 3.78%, loans grew 10.3% year over year, and core deposits rose 13.6%.
The catch is on the asset-quality side. Nonperforming assets increased to $38.1 million from $28.7 million a year earlier. The dividend is not in immediate danger, but that trend in troubled assets is worth watching.
FTAI Aviation
FTAI Aviation declared a quarterly dividend of $0.50 per share, its fourth consecutive increase and up from $0.30 a year earlier. The payment date is Aug. 24, 2026. With a trailing yield near 0.89%, the dividend is more of a supporting feature than the main reason to own the stock.
Headline coverage looks sound: Q2 diluted EPS was $1.13, more than double the $0.50 payout. But the quarter missed consensus EPS by 25.85%, and net income fell to $125.09 million from $161.69 million a year earlier. Management also trimmed Aviation Leasing adjusted EBITDA guidance to $475 million from $575 million as the company moves toward an asset-light model. The balance sheet adds another layer of risk, with roughly $3.45 billion in long-term debt against $403.99 million in shareholders' equity.
CEO Joe Adams said after the raise: 'With our fourth consecutive dividend increase, we remain confident in our outlook and our ability to deliver sustained growth and long-term value for our shareholders.' Confidence, check. Risk, also check.
Western New England Bancorp
WNEB declared a quarterly dividend of $0.07 per share on July 28, 2026, payable Aug. 26. The parent company of Westfield Bank operates 25 offices across western Massachusetts and northern Connecticut.
The $0.07 payout against latest EPS of $0.18 translates to a payout ratio of about 39%, leaving comfortable coverage. But EPS missed consensus by 25% after the bank absorbed a $1.8 million partial charge-off on a commercial real estate participation loan when the borrower filed for Chapter 11 bankruptcy in June 2026. Total criticized loans rose to 2.9% of total loans from 1.8% at year-end 2025, and nonaccrual loans increased to 0.35%.
Management expects to recover the remaining $1.6 million carrying value through a sale of the collateral. Beneath the credit issue, net interest margin expanded 20 basis points to 3.00%, and average loans grew 5.2% year over year. The dividend is covered. The credit trend is the layer to watch.
Winmark
Winmark is the name behind the Sept. 1 payment. The franchisor of Plato's Closet, Once Upon A Child, Play It Again Sports, Style Encore, and Music Go Round declared a quarterly dividend of $1.02 per share, payable Sept. 1, 2026. Its network spans 1,389 franchised locations.
Q2 diluted EPS of $2.81 missed the $3.14 consensus estimate by 10.51%, but the $1.02 payout still carries a payout ratio of roughly 36%. Royalties, the company's recurring revenue engine, grew to $20.12 million from $18.66 million. SG&A rose to $7.51 million from $6.59 million as management spent ahead of the Plato's Closet Ad Fund launch.
The balance sheet needs context. Shareholders' equity is negative $37.6 million, largely because of an aggressive buyback and dividend program at a capital-light franchisor. FY2025 free cash flow of $44.7 million comfortably supported the regular payout, so the negative equity is not an immediate red flag. It is, however, the kind of number that could become headline risk if sentiment turns.
Chasing a single dividend is not a strategy, and these payments are modest relative to the share prices. For investors already considering these stocks, timing matters: miss the Aug. 11 close, and this cycle is gone for all four. For everyone else, the calendar should not be the deciding factor. Each name has its own risk — rising nonperforming assets at FBIZ, a guidance cut and leverage at FTAI, a commercial real estate charge-off at WNEB, and negative equity at Winmark. Do the diligence before the clock runs out, but do not let the clock make the decision. If the stock does not work without the dividend, the upcoming check will not fix it.
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