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NEW YORK ( TheStreet) -- The ex-dividend date for Telefonica (NYSE: TEF) is tomorrow, May 3, 2011. Owners of shares as of market close today will be eligible for a dividend of 87 cents per share. At a price of $27.22 as of 10:11 a.m. ET, the dividend yield is 5.9%. The average volume for Telefonica has been two million shares per day over the past 30 days. Telefonica has a market cap of $123.2 billion and is part of the technology sector and telecommunications industry. Shares are up 18.2% year to date as of the close of trading on Friday. Telefonica, S.A. provides fixed and mobile telephony services primarily in Spain, rest of Europe, and Latin America. The company has a P/E ratio of 57.4, above the average telecommunications industry P/E ratio of 8.9 and above the S&P 500 P/E ratio of 17.