NEW YORK ( TheStreet) -- The ex-dividend date for Teekay Offshore Partners (NYSE: TOO) is tomorrow, May 4, 2011. Owners of shares as of market close today will be eligible for a dividend of 50 cents per share. At a price of $31.23 as of 9:31 a.m. ET, the dividend yield is 6.5%.

The average volume for Teekay has been 167,000 shares per day over the past 30 days. Teekay has a market cap of $1.7 billion and is part of the services sector and transportation industry. Shares are up 12.4% year to date as of the close of trading on Monday.

Teekay Offshore Partners L.P. provides marine transportation and storage services to the offshore oil industry. The company has a P/E ratio of 25.3, equal to the average transportation industry P/E ratio and above the S&P 500 P/E ratio of 17.1.
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TheStreet Ratings rates Teekay as a hold. The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including generally poor debt management and disappointing return on equity. You can view the full Teekay Ratings Report.

See our dividend calendar or top-yielding stocks list.
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