it depends on the server, thier bandwidth, traffic at the time the cron runs......
It also depends on how you send the mail (I believe). For example - if you send it in a loop with only one e-mail in the To: header then it uses heaps of system resources but if you use 100 emails in a BCC: header it takes less.
I would tend to send less than 50 via one server at a time but thats not based on any scientific facts.
The best way to find out would be to e-mail the webmaster.