NEW YORK ( TheStreet) -- The ex-dividend date for ALLETE (NYSE: ALE) is tomorrow, May 11, 2012. Owners of shares as of market close today will be eligible for a dividend of 46 cents per share. At a price of $40.19 as of 9:30 a.m. ET, the dividend yield is 4.6%. The average volume for ALLETE has been 185,500 shares per day over the past 30 days. ALLETE has a market cap of $1.53 billion and is part of the utilities sector and utilities industry. Shares are down 4.6% year to date as of the close of trading on Wednesday. ALLETE, Inc., together with its subsidiaries, primarily engages in the generation, transmission, and distribution of coal-fired, hydro, wind, and biomass co-fired power in the United States. The company operates in two segments, Regulated Operations, and Investments and Other. The company has a P/E ratio of 1.1, below the average utilities industry P/E ratio of 17.9 and below the S&P 500 P/E ratio of 17.7.
- Sign up for TheStreet's FREE Dividend and Income Investor Newsletter