City Developments (OTCMKTS:CDEVY) Shares Gap Down - Here's What Happened

Key Points

• City Developments Ltd. shares gapped down to $5.10 after closing at $5.32, indicating a notable decline before the market opened on Monday.
• The company announced a dividend cut, with a dividend of $0.0188 per share, which represents a significant yield of 35.0% for shareholders of record.
• City Developments has a debt-to-equity ratio of 0.94 and a current ratio of 0.81, reflecting its financial stability amidst recent challenges.

City Developments Ltd. (OTCMKTS:CDEVY - Get Free Report)'s share price gapped down prior to trading on Monday . The stock had previously closed at $5.32, but opened at $5.10. City Developments shares last traded at $5.10, with a volume of 2,113 shares trading hands.

City Developments Stock Performance

The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.94. The firm's 50 day simple moving average is $5.02 and its 200-day simple moving average is $4.25.

City Developments Cuts Dividend

The company also recently declared a dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, August 26th were given a dividend of $0.0188 per share. The ex-dividend date of this dividend was 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.