NEW YORK ( TheStreet) -- The ex-dividend date for Garmin (Nasdaq: GRMN) is tomorrow, March 13, 2012. Owners of shares as of market close today will be eligible for a dividend of 40 cents per share. At a price of $47.56 as of 9:30 a.m. ET, the dividend yield is 3.4%. The average volume for Garmin has been 1.1 million shares per day over the past 30 days. Garmin has a market cap of $8.07 billion and is part of the technology sector and electronics industry. Shares are up 19.3% year to date as of the close of trading on Friday. Garmin Ltd., together with its subsidiaries, designs, develops, manufactures, and markets global positioning system (GPS) enabled products and other navigation, communication, and information products for the automotive/mobile, outdoor, fitness, marine, and general aviation markets worldwide. The company has a P/E ratio of 17.8, above the average electronics industry P/E ratio of 16.6 and equal to the S&P 500 P/E ratio of 17.7.
TheStreet Ratings rates Garmin as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full Garmin Ratings Report. See our dividend calendar or top-yielding stocks list.