City Developments (OTCMKTS:CDEVY) Trading 14% Higher - Should You Buy?

Key Points

• City Developments Ltd. shares surged 14% during mid-day trading, reaching $5.74, following a previous close of $5.04.
• The company recently announced a dividend of $0.0188, yielding 35.0%, which was paid on September 15th.
• City Developments is a major global real estate firm with a diverse portfolio across 29 countries, including residences, offices, and shopping malls.

City Developments Ltd. (OTCMKTS:CDEVY - ) shares traded up 14% during mid-day trading on Monday . The stock traded as high as $5.74 and last traded at $5.74. 4,426 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 8,636 shares. The stock had previously closed at $5.04.

City Developments Price Performance

The firm has a 50-day moving average price of $5.27 and a 200-day moving average price of $4.47.

City Developments Cuts Dividend

The firm also recently announced a dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, August 26th were given a $0.0188 dividend. The ex-dividend date of this dividend 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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