NEW YORK (

TheStreet

) -- The ex-dividend date for

Meredith Corporation

(NYSE:

MDP

) is tomorrow, February 24, 2012. Owners of shares as of market close today will be eligible for a dividend of 38 cents per share. At a price of $33.93 as of 9:30 a.m. ET, the dividend yield is 4.5%.

The average volume for Meredith has been 671,200 shares per day over the past 30 days. Meredith has a market cap of $1.18 billion and is part of the

services

sector and

media

industry. Shares are up 3.5% year to date as of the close of trading on Wednesday.

Meredith Corporation, a media and marketing company, engages in magazine publishing and related brand licensing, television broadcasting, integrated marketing, interactive media, and video production businesses in the United States. It operates in two segments, National Media and Local Media. The company has a P/E ratio of 13.2, above the average media industry P/E ratio of 12.1 and below the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Meredith as a

buy

. The company's strengths can be seen in multiple areas, such as its attractive valuation levels, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full

Meredith Ratings Report

.

See our

dividend calendar

or

top-yielding stocks list

.

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