First Pacific (OTCMKTS:FPAFY) Trading Down 4.8% - Here's Why

Key Points

• First Pacific's shares dropped 4.8% during trading on Monday, closing at $3.96 after reaching a low of $3.86 and seeing a significant decline in trading volume.
• The company recently cut its dividend, paying $0.0709 per share for a yield of 335.0%, with the dividend payment made on October 7th.
• First Pacific operates in various sectors including consumer food products, telecommunications, and infrastructure across multiple regions, including the Philippines and Africa.

First Pacific Co. (OTCMKTS:FPAFY - ) shares dropped 4.8% during trading on Monday . The stock traded as low as $3.86 and last traded at $3.96. Approximately 4,369 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 32,330 shares. The stock had previously closed at $4.16.

First Pacific Trading Down 3.1%

The stock's fifty day moving average price is $4.20 and its 200-day moving average price is $3.76.

First Pacific Cuts Dividend

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.