Legg Mason Stock To Go Ex-dividend Tomorrow (LM)

NEW YORK ( TheStreet) -- The ex-dividend date for Legg Mason (NYSE: LM) is tomorrow, March 13, 2012. Owners of shares as of market close today will be eligible for a dividend of 8 cents per share. At a price of $27.34 as of 9:35 a.m. ET, the dividend yield is 1.2%.

The average volume for Legg Mason has been two million shares per day over the past 30 days. Legg Mason has a market cap of $3.82 billion and is part of the financial sector and financial services industry. Shares are up 14.3% year to date as of the close of trading on Friday.

Legg Mason, Inc., through its subsidiaries, operates as an asset management company worldwide. The company provides investment management and related services to institutional and individual clients; company-sponsored mutual funds; and other pooled investment vehicles. The company has a P/E ratio of 19, above the average financial services industry P/E ratio of 16.8 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Legg Mason as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full Legg Mason Ratings Report.

See our dividend calendar or top-yielding stocks list.

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