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NEW YORK ( TheStreet) -- The ex-dividend date for People's United Financial (Nasdaq: PBCT) is tomorrow, October 28, 2011. Owners of shares as of market close today will be eligible for a dividend of 16 cents per share. At a price of $12.69 as of 9:30 a.m. ET, the dividend yield is 5.2%. The average volume for People's United Financial has been 6.9 million shares per day over the past 30 days. People's United Financial has a market cap of $4.6 billion and is part of the financial sector and banking industry. Shares are down 11.6% year to date as of the close of trading on Wednesday. People's United Financial, Inc. operates as the bank holding company for People's United Bank that provides commercial banking, retail and business banking, and wealth management services to individual, corporate, and municipal customers. The company has a P/E ratio of 24.3, above the average banking industry P/E ratio of 22.5 and above the S&P 500 P/E ratio of 17.7.