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NEW YORK ( TheStreet) -- The ex-dividend date for PDL BioPharma (Nasdaq: PDLI) is Monday, March 5, 2012. Owners of shares as of market close today will be eligible for a dividend of 15 cents per share. At a price of $6.52 as of 10 a.m. ET, the dividend yield is 9.4%. The average volume for PDL BioPharma has been 2.2 million shares per day over the past 30 days. PDL BioPharma has a market cap of $889.3 million and is part of the health care sector and drugs industry. Shares are up 3.9% year to date as of the close of trading on Thursday. PDL BioPharma, Inc. engages in the management of antibody humanization patents and royalty assets, which consist of Queen et al. patents and license agreements with various biotechnology and pharmaceutical companies. Its Queen et al. The company has a P/E ratio of 5.5, below the average drugs industry P/E ratio of 8.2 and below the S&P 500 P/E ratio of 17.7.