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NEW YORK ( TheStreet) -- The ex-dividend date for Lithia Motors (NYSE: LAD) is tomorrow, March 7, 2012. Owners of shares as of market close today will be eligible for a dividend of 7 cents per share. At a price of $24.41 as of 9:30 a.m. ET, the dividend yield is 1.1%. The average volume for Lithia has been 343,800 shares per day over the past 30 days. Lithia has a market cap of $506.6 million and is part of the services sector and specialty retail industry. Shares are up 15.3% year to date as of the close of trading on Monday. Lithia Motors, Inc. operates as an automotive franchisee and retailer of new and used vehicles. It sells new and used cars, and light trucks, as well as replacement parts. The company has a P/E ratio of 12.1, below the average specialty retail industry P/E ratio of 13.8 and below the S&P 500 P/E ratio of 17.7.