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NEW YORK ( TheStreet) -- The ex-dividend date for Wausau Paper Corporation (NYSE: WPP) is tomorrow, October 28, 2011. Owners of shares as of market close today will be eligible for a dividend of 3 cents per share. At a price of $7.73 as of 10:06 a.m. ET, the dividend yield is 1.6%. The average volume for Wausau has been 405,400 shares per day over the past 30 days. Wausau has a market cap of $368.8 million and is part of the consumer goods sector and consumer non-durables industry. Shares are down 12.5% year to date as of the close of trading on Wednesday. Wausau Paper Corp. manufactures, converts, and sells paper and paper products in the United States and internationally. It operates in two segments, Tissue and Paper. The company has a P/E ratio of 16.7, equal to the average consumer non-durables industry P/E ratio and below the S&P 500 P/E ratio of 17.7.