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NEW YORK ( TheStreet) -- The ex-dividend date for Fred's (Nasdaq: FRED) is tomorrow, May 30, 2012. Owners of shares as of market close today will be eligible for a dividend of 6 cents per share. At a price of $14.17 as of 9:30 a.m. ET, the dividend yield is 1.7%. The average volume for Fred's has been 255,700 shares per day over the past 30 days. Fred's has a market cap of $525.7 million and is part of the services sector and retail industry. Shares are down 3.2% year to date as of the close of trading on Friday. Fred's, Inc., together with its subsidiaries, engages in the sale of general merchandise through retail discount stores and full service pharmacies in the southeastern United States. The company has a P/E ratio of 15.5, below the average retail industry P/E ratio of 16.2 and below the S&P 500 P/E ratio of 17.7.