City Developments (OTCMKTS:CDEVY) Shares Gap Down - Should You Sell?

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 - )'s stock price gapped down before the market opened 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 changing hands.

City Developments Stock Performance

The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.81 and a current ratio of 0.81. The company has a 50 day simple moving average of $4.93 and a two-hundred day simple moving average of $4.21.

City Developments Cuts Dividend

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

About City Developments

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.

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