NEW YORK (

TheStreet

) -- The ex-dividend date for

Westlake Chemical Corporation

(NYSE:

WLK

) is tomorrow, May 31, 2012. Owners of shares as of market close today will be eligible for a dividend of 7 cents per share. At a price of $56.17 as of 9:35 a.m. ET, the dividend yield is 0.5%.

The average volume for Westlake Chemical has been 539,200 shares per day over the past 30 days. Westlake Chemical has a market cap of $3.72 billion and is part of the

basic materials

sector and

chemicals

industry. Shares are up 38.8% year to date as of the close of trading on Tuesday.

Westlake Chemical Corporation manufactures and markets basic chemicals, vinyls, polymers, and fabricated building products. It operates in two segments, Olefins and Vinyls. The company has a P/E ratio of 14.2, equal to the average chemicals industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Westlake Chemical as a

buy

. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full

Westlake Chemical Ratings Report

.

See our

dividend calendar

or

top-yielding stocks list

.

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