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NEW YORK ( TheStreet) -- The ex-dividend date for Meadowbrook Insurance Group (NYSE: MIG) is tomorrow, May 11, 2011. Owners of shares as of market close today will be eligible for a dividend of 4 cents per share. At a price of $10.01 as of 9:30 a.m. ET, the dividend yield is 1.6%. The average volume for Meadowbrook Insurance Group has been 377,000 shares per day over the past 30 days. Meadowbrook Insurance Group has a market cap of $533.1 million and is part of the financial sector and insurance industry. Shares are down 2.3% year to date as of the previous trading day's close. Meadowbrook Insurance Group, Inc., through its subsidiaries, operates as a specialty insurance underwriter and insurance administration services company in the United States. It primarily develops and manages specialty risk management programs for defined client groups and their members. The company has a P/E ratio of 8.8, below the average insurance industry P/E ratio of 9.1 and below the S&P 500 P/E ratio of 16.2.