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NEW YORK ( TheStreet) -- The ex-dividend date for Northern Trust Corporation (Nasdaq: NTRS) is tomorrow, December 7, 2011. Owners of shares as of market close today will be eligible for a dividend of 28 cents per share. At a price of $39.04 as of 9:30 a.m. ET, the dividend yield is 2.9%. The average volume for Northern Trust has been 2.3 million shares per day over the past 30 days. Northern Trust has a market cap of $9.22 billion and is part of the financial sector and banking industry. Shares are down 28.9% year to date as of the close of trading on Monday. Northern Trust Corporation, through its subsidiaries, provides investment management, asset and fund administration, banking solutions, and fiduciary services for corporations, institutions, and affluent individuals worldwide. The company has a P/E ratio of 14.9, equal to the average banking industry P/E ratio and below the S&P 500 P/E ratio of 17.7.