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NEW YORK ( TheStreet) -- The ex-dividend date for Firstmerit (Nasdaq: FMER) is tomorrow, May 31, 2012. Owners of shares as of market close today will be eligible for a dividend of 16 cents per share. At a price of $15.95 as of 9:30 a.m. ET, the dividend yield is 4%. The average volume for Firstmerit has been 696,900 shares per day over the past 30 days. Firstmerit has a market cap of $1.77 billion and is part of the financial sector and banking industry. Shares are up 6.2% year to date as of the close of trading on Tuesday. FirstMerit Corporation operates as a bank holding company for FirstMerit Bank, N.A. that provides various banking, fiduciary, financial, insurance, and investment services to corporate, institutional, and individual customers. The company has a P/E ratio of 14.3, below the average banking industry P/E ratio of 14.4 and below the S&P 500 P/E ratio of 17.7.