NEW YORK ( TheStreet) -- The ex-dividend date for Cytec Industries (NYSE: CYT) is tomorrow, May 6, 2011. Owners of shares as of market close today will be eligible for a dividend of 12 cents per share. At a price of $56.36 as of 9:31 a.m. ET, the dividend yield is 0.9%.

The average volume for Cytec has been 511,000 shares per day over the past 30 days. Cytec has a market cap of $2.8 billion and is part of the basic materials sector and chemicals industry. Shares are up 6.7% year to date as of the close of trading on Wednesday.

Cytec Industries Inc., a specialty chemicals and materials company, engages in the development, manufacture, and sale of chemical products worldwide. The company has a P/E ratio of 17.9, above the average chemicals industry P/E ratio of 12.5 and above the S&P 500 P/E ratio of 17.
  • Practice your dividend trading strategies and win cash in our stock game.

TheStreet Ratings rates Cytec as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full Cytec Ratings Report.

See our dividend calendar or top-yielding stocks list.