Hongkong Land (OTCMKTS:HNGKY) Shares Gap Down - Here's Why

Key Points

• Hongkong Land Holdings Ltd. saw its shares gap down from a previous close of $31.83 to an opening of $30.43, with the last trading price at $31.34.
• The company announced a dividend cut, revealing a dividend of $0.24 per share set to be paid on October 22, which represents a substantial yield of 328.0%.
• Hongkong Land primarily focuses on property investment and management across various regions, including Hong Kong, Macau, and Mainland China, with over 850,000 square meters of assets.

Hongkong Land Holdings Ltd. (OTCMKTS:HNGKY - ) gapped down prior to trading on Thursday . The stock had previously closed at $31.83, but opened at $30.43. Hongkong Land shares last traded at $31.34, with a volume of 4,622 shares.

Hongkong Land Stock Up 1.1%

The firm's 50 day moving average is $32.00 and its 200 day moving average is $28.60.

Hongkong Land Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Monday, August 25th will be given a dividend of $0.24 per share. This represents a yield of 328.0%. The ex-dividend date of this dividend is Friday, August 22nd.

About Hongkong Land

Hongkong Land Holdings Limited, together with its subsidiaries, engages in the investment, development, and management of properties in Hong Kong, Macau, Mainland China, Southeast Asia, and internationally. The company operates in two segments, Investment Properties and Development Properties. It owns and manages approximately 850,000 square meters of office and luxury retail assets primarily in Hong Kong, Singapore, Beijing, and Jakarta.

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