The ex-dividend date for Ormat Technologies (NYSE:ORA) is Monday, May 16, 2011. Owners of shares as of market close today will be eligible for a dividend of 4 cents per share. At a price of $23.58 as of 9:30 a.m., the dividend yield is 0.7%.
NEW YORK ( TheStreet) -- The ex-dividend date for Ormat Technologies (NYSE: ORA) is Monday, May 16, 2011. Owners of shares as of market close today will be eligible for a dividend of 4 cents per share. At a price of $23.58 as of 9:30 a.m. ET, the dividend yield is 0.7%. The average volume for Ormat has been 233,400 shares per day over the past 30 days. Ormat has a market cap of $1 billion and is part of the utilities sector and utilities industry. Shares are down 20.9% year to date as of the close of trading on Thursday. Ormat Technologies, Inc., together with its subsidiaries, engages in the geothermal and recovered energy power business worldwide. The company operates in two segments, Electricity and Product. The company has a P/E ratio of 39.5, above the average utilities industry P/E ratio of 38.1 and above the S&P 500 P/E ratio of 17.7.
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TheStreet Ratings rates Ormat as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, feeble growth in the company's earnings per share and deteriorating net income. You can view the full Ormat Ratings Report. See our dividend calendar or top-yielding stocks list.