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NEW YORK ( TheStreet) -- The ex-dividend date for Gerdau (NYSE: GGB) is Monday, May 14, 2012. Owners of shares as of market close today will be eligible for a dividend of 3 cents per share. At a price of $8.29 as of 9:30 a.m. ET, the dividend yield is 2.2%. The average volume for Gerdau has been 6.8 million shares per day over the past 30 days. Gerdau has a market cap of $14.08 billion and is part of the basic materials sector and metals & mining industry. Shares are up 8.1% year to date as of the close of trading on Thursday. Gerdau S.A. engages in the production and sale of steel products in Brazil and internationally. The company has a P/E ratio of 6.8, below the average metals & mining industry P/E ratio of 12.5 and below the S&P 500 P/E ratio of 17.7.