The ex-dividend date for Cytec Industries (NYSE:CYT) is tomorrow, May 8, 2012. Owners of shares as of market close today will be eligible for a dividend of 13 cents per share. At a price of $61.73 as of 9:34 a.m., the dividend yield is 0.8%.
NEW YORK ( TheStreet) -- The ex-dividend date for Cytec Industries (NYSE: CYT) is tomorrow, May 8, 2012. Owners of shares as of market close today will be eligible for a dividend of 13 cents per share. At a price of $61.73 as of 9:34 a.m. ET, the dividend yield is 0.8%. The average volume for Cytec has been 622,000 shares per day over the past 30 days. Cytec has a market cap of $2.9 billion and is part of the basic materials sector and chemicals industry. Shares are up 38.5% year to date as of the close of trading on Friday. Cytec Industries Inc., a specialty chemicals and materials company, engages in developing, manufacturing, and selling chemical products primarily for aerospace composites, structural adhesives, automotive and industrial coatings, electronics, inks, mining, and plastics markets. The company has a P/E ratio of 16.9, equal to the average chemicals industry P/E ratio and below the S&P 500 P/E ratio of 17.7.
TheStreet Ratings rates Cytec as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, revenue growth, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Cytec Ratings Report. See our dividend calendar or top-yielding stocks list.