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NEW YORK ( TheStreet) -- The ex-dividend date for Fred's (Nasdaq: FRED) is tomorrow, November 29, 2011. Owners of shares as of market close today will be eligible for a dividend of 5 cents per share. At a price of $12.89 as of 9:30 a.m. ET, the dividend yield is 1.6%. The average volume for Fred's has been 362,900 shares per day over the past 30 days. Fred's has a market cap of $479.1 million and is part of the services sector and retail industry. Shares are down 11.4% year to date as of the close of trading on Friday. Fred's, Inc. and its subsidiaries sell general merchandise through retail discount stores and pharmacies in the southeastern United States. The company has a P/E ratio of 15.3, below the average retail industry P/E ratio of 15.9 and below the S&P 500 P/E ratio of 17.7.