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NEW YORK ( TheStreet) -- The ex-dividend date for Westlake Chemical Corporation (NYSE: WLK) is tomorrow, May 31, 2012. Owners of shares as of market close today will be eligible for a dividend of 7 cents per share. At a price of $56.17 as of 9:35 a.m. ET, the dividend yield is 0.5%. The average volume for Westlake Chemical has been 539,200 shares per day over the past 30 days. Westlake Chemical has a market cap of $3.72 billion and is part of the basic materials sector and chemicals industry. Shares are up 38.8% year to date as of the close of trading on Tuesday. Westlake Chemical Corporation manufactures and markets basic chemicals, vinyls, polymers, and fabricated building products. It operates in two segments, Olefins and Vinyls. The company has a P/E ratio of 14.2, equal to the average chemicals industry P/E ratio and below the S&P 500 P/E ratio of 17.7.