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NEW YORK ( TheStreet) -- The ex-dividend date for Permian Basin Royalty (NYSE: PBT) is tomorrow, March 29, 2011. Owners of shares as of market close today will be eligible for a dividend of 14 cents per share. At a price of $21.84 as of 9:30 a.m. ET, the dividend yield is 7.5%. The average volume for Permian Basin Royalty has been 232,100 shares per day over the past 30 days. Permian Basin Royalty has a market cap of $1 billion and is part of the financial sector and financial services industry. Shares are down 4% year to date as of the close of trading on Friday. Permian Basin Royalty Trust owns overriding royalty rights in mineral properties in the United States. The company has a P/E ratio of 15.7, equal to the average financial services industry P/E ratio and below the S&P 500 P/E ratio of 16.2.