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NEW YORK ( TheStreet) -- The ex-dividend date for Enerplus (NYSE: ERF) is tomorrow, May 8, 2012. Owners of shares as of market close today will be eligible for a dividend of 18 cents per share. At a price of $17.52 as of 9:30 a.m. ET, the dividend yield is 12.1%. The average volume for Enerplus has been 1.5 million shares per day over the past 30 days. Enerplus has a market cap of $3.56 billion and is part of the basic materials sector and energy industry. Shares are down 30.3% year to date as of the close of trading on Friday. Enerplus Corporation, together with subsidiaries, engages in the exploration and development of crude oil and natural gas in United States and Canada. As of December 31, 2011, it had 322 MMBOE of proved plus probable reserves. The company has a P/E ratio of 30.3, equal to the average energy industry P/E ratio and above the S&P 500 P/E ratio of 17.7.