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NEW YORK ( TheStreet) -- The ex-dividend date for Rayonier (NYSE: RYN) is tomorrow, March 14, 2012. Owners of shares as of market close today will be eligible for a dividend of 40 cents per share. At a price of $45.74 as of 9:30 a.m. ET, the dividend yield is 3.6%. The average volume for Rayonier has been 861,700 shares per day over the past 30 days. Rayonier has a market cap of $5.62 billion and is part of the conglomerates sector and conglomerates industry. Shares are up 2.3% year to date as of the close of trading on Monday. Rayonier, Inc. engages in the sale and development of real estate and timberland management, as well as in the production and sale of cellulose fibers in the United States, New Zealand, and Australia. The company has a P/E ratio of 20.5, below the average conglomerates industry P/E ratio of 20.6 and above the S&P 500 P/E ratio of 17.7.