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NEW YORK ( TheStreet) -- The ex-dividend date for Pinnacle West Capital Corporation (NYSE: PNW) is tomorrow, October 28, 2011. Owners of shares as of market close today will be eligible for a dividend of 53 cents per share. At a price of $46.55 as of 9:31 a.m. ET, the dividend yield is 4.6%. The average volume for Pinnacle West has been 1.1 million shares per day over the past 30 days. Pinnacle West has a market cap of $5 billion and is part of the utilities sector and utilities industry. Shares are up 10% year to date as of the close of trading on Wednesday. Pinnacle West Capital Corporation, through its subsidiaries, provides retail and wholesale electric services primarily in the State of Arizona. The company involves in the generation, transmission, and distribution of electricity through coal, nuclear, gas and oil, and solar resources. The company has a P/E ratio of 16.2, below the average utilities industry P/E ratio of 16.5 and below the S&P 500 P/E ratio of 17.7.