Citic (OTCMKTS:CTPCY) Shares Gap Down - What's Next?

Key Points

• Citic Ltd. shares gapped down from $7.78 to $7.06 before the market opened, marking a decline of 9.3%.
• The company also announced a dividend of $0.1201 to be paid on December 1st, with a dividend yield of 452.0%.
• Citic operates in various sectors, including financial services, advanced manufacturing, and engineering contracting, providing a broad range of integrated services.

Citic Ltd. (OTCMKTS:CTPCY - )'s share price gapped down before the market opened on Wednesday . The stock had previously closed at $7.78, but opened at $7.06. Citic shares last traded at $7.06, with a volume of 179 shares trading hands.

Citic Stock Down 9.3%

The stock has a 50 day moving average of $7.34 and a 200-day moving average of $6.64. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.33 and a current ratio of 0.34.

Citic Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, September 24th will be issued a $0.1201 dividend. This represents a dividend yield of 452.0%. The ex-dividend date is Tuesday, September 23rd.

About Citic

CITIC Limited operates in financial services, advanced intelligent manufacturing, advanced materials, consumption, urbanization, resources and energy, and engineering contracting businesses worldwide. The Comprehensive Financial Services segment provides banking, investment research, securities brokerage, trust, insurance and reinsurance, investment banking, wealth and asset management, financial markets, equity investment, financing, and other integrated financial services.

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