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NEW YORK ( TheStreet) -- The ex-dividend date for Tiffany (NYSE: TIF) is tomorrow, March 16, 2012. Owners of shares as of market close today will be eligible for a dividend of 29 cents per share. At a price of $70 as of 9:30 a.m. ET, the dividend yield is 1.6%. The average volume for Tiffany has been 2.7 million shares per day over the past 30 days. Tiffany has a market cap of $8.03 billion and is part of the services sector and specialty retail industry. Shares are up 5.9% year to date as of the close of trading on Wednesday. Tiffany & Co., through its subsidiaries, engages in the design, manufacture, and retail of fine jewelry worldwide. The company has a P/E ratio of 20.3, above the average specialty retail industry P/E ratio of 18.4 and above the S&P 500 P/E ratio of 17.7.