First Pacific (OTCMKTS:FPAFY) Shares Gap Down - Here's Why

Key Points

• First Pacific's shares gapped down, opening at $4.01 after closing at $4.17, and last traded at $4.10.
• The company recently cut its dividend, distributing $0.0709 per share with a yield of 335.0% for shareholders of record on September 11th.
• First Pacific operates as an investment holding company involved in various sectors, including consumer food products, telecommunications, and infrastructure across multiple regions.

First Pacific Co. (OTCMKTS:FPAFY - ) shares gapped down prior to trading on Friday . The stock had previously closed at $4.17, but opened at $4.01. First Pacific shares last traded at $4.10, with a volume of 3,854 shares changing hands.

First Pacific Trading Down 2.8%

The stock's 50-day simple moving average is $4.20 and its two-hundred day simple moving average is $3.74.

First Pacific Cuts Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, October 7th. Shareholders of record on Thursday, September 11th were given a dividend of $0.0709 per share. The ex-dividend date was Wednesday, September 10th. This represents a yield of 335.0%.

First Pacific Company Profile

First Pacific Company Limited, an investment holding company, engages in the consumer food products, telecommunications, infrastructure, and natural resources businesses in the Philippines, Indonesia, Singapore, the Middle East, Africa, and internationally. The company offers a range of telecommunications and digital services, including fiber optic backbone, and fixed line and cellular networks.

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