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NEW YORK ( TheStreet) -- The ex-dividend date for Meadowbrook Insurance Group (NYSE: MIG) is tomorrow, May 9, 2012. Owners of shares as of market close today will be eligible for a dividend of 5 cents per share. At a price of $8.50 as of 9:30 a.m. ET, the dividend yield is 2.4%. The average volume for Meadowbrook Insurance Group has been 187,100 shares per day over the past 30 days. Meadowbrook Insurance Group has a market cap of $429.3 million and is part of the financial sector and insurance industry. Shares are down 19.9% year to date as of the close of trading on Monday. Meadowbrook Insurance Group, Inc., through its subsidiaries, operates as a specialty commercial insurance underwriter and insurance administration services company in the United States. The company has a P/E ratio of 11.8, above the average insurance industry P/E ratio of 10.2 and below the S&P 500 P/E ratio of 17.7.