NEW YORK ( TheStreet) -- The ex-dividend date for Meredith Corporation (NYSE: MDP) is tomorrow, February 24, 2011. Owners of shares as of market close today will be eligible for a dividend of 26 cents per share. At a price of $35.72 as of 9:30 a.m. ET, the dividend yield is 2.8%.

The average volume for Meredith has been 592,800 shares per day over the past 30 days. Meredith has a market cap of $1.3 billion and is part of the services sector and media industry. Shares are up 2.4% year to date as of the close of trading on Tuesday.

Meredith Corporation, a media and marketing company, engages in magazine and book publishing, television broadcasting, integrated marketing, and interactive media business in the United States. It operates in two segments, Publishing and Broadcasting. The company has a P/E ratio of 12.4, equal to the average media industry P/E ratio and below the S&P 500 P/E ratio of 23.2.

TheStreet Ratings rates Meredith as hold. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we find that the stock has experienced relatively poor performance when compared with the S&P 500 during the past year. You can view the full Meredith Ratings Report.

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