City Developments (OTCMKTS:CDEVY) Shares Gap Down - What's Next?

Key Points

• City Developments Ltd. shares experienced a significant decline, opening at $4.97 after closing at $5.20, marking a drop of 4.5%.
• The company recently reduced its dividend to $0.0188 per share, which results in a high dividend yield of 35.0% for investors.
• City Developments maintains a debt-to-equity ratio of 0.94 and has a current quick ratio of 0.81, indicating potential financial stability challenges.

City Developments Ltd. (OTCMKTS:CDEVY - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $5.20, but opened at $4.97. City Developments shares last traded at $4.97, with a volume of 257 shares trading hands.

City Developments Trading Up 2.3%

The stock has a 50-day simple moving average of $4.91 and a two-hundred day simple moving average of $4.20. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.81 and a current ratio of 0.81.

City Developments Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, August 26th will be issued a $0.0188 dividend. The ex-dividend date is Monday, August 25th. This represents a dividend yield of 35.0%.

City Developments Company Profile

City Developments Limited (CDL) is a leading global real estate company with a network spanning 112 locations in 29 countries and regions. Listed on the Singapore Exchange, the Group is one of the largest companies by market capitalisation. Its income-stable and geographically-diverse portfolio comprises residences, offices, hotels, serviced apartments, shopping malls and integrated developments.