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NEW YORK ( TheStreet) -- The ex-dividend date for CLECO Corporation (NYSE: CNL) is tomorrow, May 5, 2011. Owners of shares as of market close today will be eligible for a dividend of 28 cents per share. At a price of $35.40 as of 9:31 a.m. ET, the dividend yield is 3.2%. The average volume for CLECO has been 431,400 shares per day over the past 30 days. CLECO has a market cap of $2.1 billion and is part of the utilities sector and utilities industry. Shares are up 15.2% year to date as of the close of trading on Tuesday. Cleco Corporation, through its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in Louisiana. The company has a P/E ratio of 8.4, equal to the average utilities industry P/E ratio and below the S&P 500 P/E ratio of 17.