Chorus (OTCMKTS:CHRYY) Shares Gap Down - Here's Why

Key Points

• Chorus Ltd. shares gapped down from a previous close of $29.17 to an opening price of $28.23, marking a 3.2% decline.
• The company announced a significant dividend yield of 482.0%, with a payment of $0.8575 scheduled for October 27th to shareholders recorded by September 17th.
• Chorus operates in New Zealand, providing fixed line communications infrastructure services, including broadband and data services.

Shares of Chorus Ltd. (OTCMKTS:CHRYY - ) gapped down prior to trading on Tuesday . The stock had previously closed at $29.17, but opened at $28.23. Chorus shares last traded at $28.23, with a volume of 187 shares traded.

Chorus Stock Down 3.2%

The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 8.05. The company's 50 day moving average price is $26.49 and its 200 day moving average price is $24.56.

Chorus Announces Dividend

The company also recently announced a dividend, which will be paid on Monday, October 27th. Stockholders of record on Wednesday, September 17th will be paid a $0.8575 dividend. This represents a dividend yield of 482.0%. The ex-dividend date is Tuesday, September 16th.

About Chorus

Chorus Limited, together with its subsidiaries, engages in the provision of fixed line communications infrastructure services in New Zealand. It offers phone and broadband services for residential and business customers; data and voice services; and solutions for transport and infrastructure. The company also builds and maintains a network of fibre and copper cables, local telephone exchanges, and cabinets.

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