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NEW YORK ( TheStreet) -- The ex-dividend date for Macerich Company (NYSE: MAC) is tomorrow, May 8, 2012. Owners of shares as of market close today will be eligible for a dividend of 55 cents per share. At a price of $61.77 as of 9:30 a.m. ET, the dividend yield is 3.5%. The average volume for Macerich has been 852,000 shares per day over the past 30 days. Macerich has a market cap of $8.24 billion and is part of the financial sector and real estate industry. Shares are up 22.5% year to date as of the close of trading on Friday. The Macerich Company operates as a real estate investment trust (REIT) in the United States. The company has a P/E ratio of 46, below the average real estate industry P/E ratio of 52.7 and above the S&P 500 P/E ratio of 17.7.