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NEW YORK ( TheStreet) -- The ex-dividend date for Canadian Imperial Bank of Commerce (NYSE: CM) is tomorrow, December 23, 2011. Owners of shares as of market close today will be eligible for a dividend of 88 cents per share. At a price of $71.72 as of 9:30 a.m. ET, the dividend yield is 5%. The average volume for Canadian Imperial Bank of has been 276,500 shares per day over the past 30 days. Canadian Imperial Bank of has a market cap of $28.51 billion and is part of the financial sector and banking industry. Shares are down 8.5% year to date as of the close of trading on Wednesday. Canadian Imperial Bank of Commerce provides various financial products and services to individual, small business, commercial, corporate, and institutional clients in Canada and internationally. The company has a P/E ratio of 9.7, equal to the average banking industry P/E ratio and below the S&P 500 P/E ratio of 17.7.