NEW YORK (

TheStreet

) -- The ex-dividend date for

Provident Energy

(NYSE:

PVX

) is tomorrow, May 24, 2011. Owners of shares as of market close today will be eligible for a dividend of 4 cents per share. At a price of $8.81 as of 9:32 a.m. ET, the dividend yield is 6.3%.

The average volume for Provident Energy has been 1.3 million shares per day over the past 30 days. Provident Energy has a market cap of $2.4 billion and is part of the

basic materials

sector and

energy

industry. Shares are up 12.3% year to date as of the close of trading on Friday.

Provident Energy Ltd. owns and manages a natural gas liquids midstream services and marketing business. The company involves in the processing, extraction, transportation, loading, storage, and marketing of natural gas liquids in central Canada and the eastern United States. The company has a P/E ratio of 35.4, below the average energy industry P/E ratio of 36.5 and above the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Provident Energy as a

hold

. The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including weak operating cash flow, poor profit margins and generally poor debt management. You can view the full

Provident Energy Ratings Report

.

See our

dividend calendar

or

top-yielding stocks list

.

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