The ex-dividend date for Schnitzer Steel Industries (Nasdaq:SCHN) is tomorrow, May 15, 2012. Owners of shares as of market close today will be eligible for a dividend of 19 cents per share. At a price of $35.33 as of 9:30 a.m., the dividend yield is 2%.
NEW YORK ( TheStreet) -- The ex-dividend date for Schnitzer Steel Industries (Nasdaq: SCHN) is tomorrow, May 15, 2012. Owners of shares as of market close today will be eligible for a dividend of 19 cents per share. At a price of $35.33 as of 9:30 a.m. ET, the dividend yield is 2%. The average volume for Schnitzer has been 326,700 shares per day over the past 30 days. Schnitzer has a market cap of $931.6 million and is part of the basic materials sector and metals & mining industry. Shares are down 15.3% year to date as of the close of trading on Friday. Schnitzer Steel Industries, Inc. engages in recycling ferrous and nonferrous scrap metals, and used and salvaged vehicles; and manufacturing finished steel products. The company has a P/E ratio of 369.2, above the average metals & mining industry P/E ratio of 11.9 and above the S&P 500 P/E ratio of 17.7.
TheStreet Ratings rates Schnitzer as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity. You can view the full Schnitzer Ratings Report. See our dividend calendar or top-yielding stocks list.