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.
TheStreet Ratings rates Fred's as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, compelling growth in net income, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full Fred's Ratings Report. See our dividend calendar or top-yielding stocks list.