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NEW YORK ( TheStreet) -- The ex-dividend date for Redwood (NYSE: RWT) is tomorrow, March 13, 2012. Owners of shares as of market close today will be eligible for a dividend of 25 cents per share. At a price of $11.60 as of 9:30 a.m. ET, the dividend yield is 8.7%. The average volume for Redwood has been 770,900 shares per day over the past 30 days. Redwood has a market cap of $918.3 million and is part of the financial sector and real estate industry. Shares are up 13.7% year to date as of the close of trading on Friday. Redwood Trust, Inc., a real estate investment trust, together with its subsidiaries, engages in investing, financing, and managing real estate assets. The company has a P/E ratio of 37, above the average real estate industry P/E ratio of 22.4 and above the S&P 500 P/E ratio of 17.7.