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NEW YORK ( TheStreet) -- The ex-dividend date for PolyOne Corporation (NYSE: POL) is Monday, March 12, 2012. Owners of shares as of market close today will be eligible for a dividend of 5 cents per share. At a price of $13 as of 9:30 a.m. ET, the dividend yield is 1.6%. The average volume for PolyOne has been 770,700 shares per day over the past 30 days. PolyOne has a market cap of $1.28 billion and is part of the basic materials sector and chemicals industry. Shares are up 12.6% year to date as of the close of trading on Thursday. PolyOne Corporation provides specialized polymer materials, services, and solutions with operations in specialty polymer formulations, color and additive systems, polymer distribution, and specialty vinyl resins. The company has a P/E ratio of 6.9, above the average chemicals industry P/E ratio of 5.3 and below the S&P 500 P/E ratio of 17.7.