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NEW YORK ( TheStreet) -- The ex-dividend date for Permian Basin Royalty (NYSE: PBT) is Tuesday, May 29, 2012. Owners of shares as of market close today will be eligible for a dividend of 14 cents per share. At a price of $18.89 as of 9:30 a.m. ET, the dividend yield is 8.7%. The average volume for Permian Basin Royalty has been 202,400 shares per day over the past 30 days. Permian Basin Royalty has a market cap of $894 million and is part of the basic materials sector and energy industry. Shares are down 7.7% year to date as of the close of trading on Thursday. Permian Basin Royalty Trust owns overriding royalty interests in various oil and gas properties in the United States. The company has a P/E ratio of 13.2, below the average energy industry P/E ratio of 13.3 and below the S&P 500 P/E ratio of 17.7.