NEW YORK ( TheStreet) -- The ex-dividend date for PDL BioPharma (Nasdaq: PDLI) is tomorrow, June 5, 2012. Owners of shares as of market close today will be eligible for a dividend of 15 cents per share. At a price of $6.33 as of 9:30 a.m. ET, the dividend yield is 9.3%. The average volume for PDL BioPharma has been 1.5 million shares per day over the past 30 days. PDL BioPharma has a market cap of $907.9 million and is part of the health care sector and drugs industry. Shares are up 1.9% year to date as of the close of trading on Friday. PDL BioPharma, Inc. engages in intellectual property asset management and royalty bearing assets investment activities. The company is involved in the humanization of monoclonal antibodies and the discovery of a new generation of targeted treatments for cancer and immunologic diseases. The company has a P/E ratio of 5.5, above the average drugs industry P/E ratio of 5.3 and below the S&P 500 P/E ratio of 17.7.
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