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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.