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NEW YORK ( TheStreet) -- The ex-dividend date for Teekay Offshore Partners (NYSE: TOO) is Monday, October 31, 2011. Owners of shares as of market close today will be eligible for a dividend of 50 cents per share. At a price of $26.50 as of 9:30 a.m. ET, the dividend yield is 7.5%. The average volume for Teekay has been 193,200 shares per day over the past 30 days. Teekay has a market cap of $1.7 billion and is part of the services sector and transportation industry. Shares are down 3% year to date as of the close of trading on Thursday. Teekay Offshore Partners L.P. provides marine transportation, oil production, and storage services to the offshore oil industry. The company has a P/E ratio of 21.8, below the average transportation industry P/E ratio of 23.1 and above the S&P 500 P/E ratio of 17.7.