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NEW YORK ( TheStreet) -- The ex-dividend date for TransAlta Corporation (NYSE: TAC) is tomorrow, May 30, 2012. Owners of shares as of market close today will be eligible for a dividend of 29 cents per share. At a price of $17.05 as of 9:30 a.m. ET, the dividend yield is 7%. The average volume for TransAlta has been 126,200 shares per day over the past 30 days. TransAlta has a market cap of $3.78 billion and is part of the utilities sector and utilities industry. Shares are down 18.3% year to date as of the close of trading on Friday. TransAlta Corporation operates as a non-regulated electricity generation and energy marketing company. The company engages in the production and sale of electric energy through its diversified portfolio of facilities fuelled by coal, natural gas, hydroelectric, wind, and geothermal resources. The company has a P/E ratio of 21.3, above the average utilities industry P/E ratio of 21.1 and above the S&P 500 P/E ratio of 17.7.