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NEW YORK ( TheStreet) -- The ex-dividend date for Baltic Trading (NYSE: BALT) is tomorrow, November 8, 2011. Owners of shares as of market close today will be eligible for a dividend of 12 cents per share. At a price of $5.82 as of 9:31 a.m. ET, the dividend yield is 8.3%. The average volume for Baltic Trading has been 162,100 shares per day over the past 30 days. Baltic Trading has a market cap of $124.7 million and is part of the services sector and transportation industry. Shares are down 43.7% year to date as of the close of trading on Friday. Baltic Trading Limited engages in shipping business in the drybulk industry spot market. The company transports iron ore, coal, grain, steel products, and other drybulk cargoes worldwide. The company has a P/E ratio of 71.9, above the average transportation industry P/E ratio of 27.6 and above the S&P 500 P/E ratio of 17.7.