NEW YORK ( TheStreet) -- The ex-dividend date for Albemarle Corporation (NYSE: ALB) is tomorrow, March 11, 2011. Owners of shares as of market close today will be eligible for a dividend of 16 cents per share. At a price of $54.70 as of 10:21 a.m. ET, the dividend yield is 1.2%. The average volume for Albemarle has been 815,000 shares per day over the past 30 days. Albemarle has a market cap of $5.2 billion and is part of the basic materials sector and chemicals industry. Shares are up 1.1% year to date as of the close of trading on Wednesday. Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals in the United States and internationally. The company has a P/E ratio of 16.2, equal to the average chemicals industry P/E ratio and below the S&P 500 P/E ratio of 17.5. TheStreet Ratings rates Albemarle as buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, reasonable valuation levels and expanding profit margins. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full Albemarle Ratings Report. See our dividend calendar or top-yielding stocks list.