NEW YORK ( TheStreet) -- The ex-dividend date for ITC Holdings (NYSE: ITC) is tomorrow, May 31, 2012. Owners of shares as of market close today will be eligible for a dividend of 35 cents per share. At a price of $68.88 as of 9:30 a.m. ET, the dividend yield is 2%.

The average volume for ITC has been 510,100 shares per day over the past 30 days. ITC has a market cap of $3.56 billion and is part of the utilities sector and utilities industry. Shares are down 9% year to date as of the close of trading on Tuesday.

ITC Holdings Corp., together with its subsidiaries, engages in the transmission of electricity in the United States. The company has a P/E ratio of 20.5, equal to the average utilities industry P/E ratio and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates ITC as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, increase in net income, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company has had generally poor debt management on most measures that we evaluated. You can view the full ITC Ratings Report.

See our dividend calendar or top-yielding stocks list.

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