China Resources Cement (OTCMKTS:CARCY) Shares Up 9% - Here's Why

Key Points

• China Resources Cement's stock surged by 9% to $7.40, with trading volume increasing by 524% compared to the average session.
• The company announced a dividend of $0.0307 per share, reflecting a yield of 1.54% and a payout ratio of 31.58%.
• China Resources Cement, with a market cap of $1.72 billion, operates in the manufacturing and sale of cement and related products within Mainland China.

China Resources Cement Holdings Ltd. Unsponsored ADR (OTCMKTS:CARCY - Get Free Report) was up 9% during mid-day trading on Wednesday . The stock traded as high as $7.40 and last traded at $7.40. Approximately 214 shares were traded during mid-day trading, an increase of 524% from the average daily volume of 34 shares. The stock had previously closed at $6.79.

China Resources Cement Stock Performance

The firm's 50-day moving average is $6.29 and its 200-day moving average is $6.21. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 38.95 and a beta of 0.07.

China Resources Cement Cuts Dividend

The firm also recently declared a dividend, which will be paid on Thursday, August 7th. Investors of record on Monday, June 9th will be given a $0.0307 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a yield of 154.0%. China Resources Cement's dividend payout ratio (DPR) is presently 31.58%.

About China Resources Cement

China Resources Building Materials Technology Holdings Limited, an investment holding company, manufactures and sells cement, concrete, aggregates, and related products and services in Mainland China. It operates through Cement, Concrete, and Aggregates and Others segments. The company engages in the excavation of limestone; and production, sale, and distribution of cement, clinker, and concrete.