City Developments (OTCMKTS:CDEVY) Stock Crosses Above Fifty Day Moving Average - Here's Why

Key Points

• City Developments Ltd. stock price crossed above its 50-day moving average of $5.18, trading as high as $5.52, with last traded price at $5.25.
• The company recently cut its dividend, paying out $0.0188 per share, which represents a yield of 35.0%.
• City Developments is a major global real estate company, operating in 112 locations across 29 countries, solidifying its position as one of the largest firms by market capitalization on the Singapore Exchange.

City Developments Ltd. (OTCMKTS:CDEVY - )'s stock price crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $5.18 and traded as high as $5.52. City Developments shares last traded at $5.25, with a volume of 852 shares.

City Developments Trading Down 4.9%

The stock's fifty day moving average price is $5.18 and its 200-day moving average price is $4.38.

City Developments Cuts Dividend

The business also recently disclosed a dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, August 26th were given a dividend of $0.0188 per share. The ex-dividend date was Monday, August 25th. This represents a 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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