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NEW YORK ( TheStreet) -- The ex-dividend date for AAR Corp (NYSE: AIR) is tomorrow, October 20, 2011. Owners of shares as of market close today will be eligible for a dividend of 8 cents per share. At a price of $17.82 as of 9:30 a.m. ET, the dividend yield is 1.6%. The average volume for AAR has been 439,700 shares per day over the past 30 days. AAR has a market cap of $719.4 million and is part of the industrial goods sector and aerospace/defense industry. Shares are down 35.3% year to date as of the close of trading on Tuesday. AAR CORP. provides products and services to aviation, government, and defense markets worldwide. The company's Aviation Supply Chain segment purchases and sells new, overhauled, and repaired engine and airframe parts and components. The company has a P/E ratio of 10, equal to the average aerospace/defense industry P/E ratio and below the S&P 500 P/E ratio of 17.7.