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NEW YORK ( TheStreet) -- The ex-dividend date for Southern (NYSE: SO) is tomorrow, May 3, 2012. Owners of shares as of market close today will be eligible for a dividend of 49 cents per share. At a price of $46.13 as of 9:30 a.m. ET, the dividend yield is 4.3%. The average volume for Southern has been 3.7 million shares per day over the past 30 days. Southern has a market cap of $39.93 billion and is part of the utilities sector and utilities industry. Shares are down 0.3% year to date as of the close of trading on Tuesday. The Southern Company operates as an electric utility company. It is involved in the generation, transmission, and distribution of electricity through coal, nuclear, oil and gas, and hydro resources. The company has a P/E ratio of 18.4, below the average utilities industry P/E ratio of 22.4 and above the S&P 500 P/E ratio of 17.7.