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NEW YORK ( TheStreet) -- The ex-dividend date for First Niagara Financial Group (Nasdaq: FNFG) is tomorrow, May 2, 2012. Owners of shares as of market close today will be eligible for a dividend of 8 cents per share. At a price of $8.96 as of 9:30 a.m. ET, the dividend yield is 3.5%. The average volume for First Niagara Financial Group has been 4.6 million shares per day over the past 30 days. First Niagara Financial Group has a market cap of $3.21 billion and is part of the financial sector and banking industry. Shares are up 3.6% year to date as of the close of trading on Monday. First Niagara Financial Group, Inc. operates as the holding company for First Niagara Bank, N.A. that provides retail and commercial banking, and other financial services to individuals, families, and businesses. The company has a P/E ratio of 15.5, above the average banking industry P/E ratio of 15.2 and below the S&P 500 P/E ratio of 17.7.