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

Key Points

• Hongkong Land Holdings Ltd. (OTCMKTS:HNGKY) shares opened at $32.96, up from a previous close of $31.81, indicating positive market sentiment.
• The company announced a $0.24 dividend, to be paid on October 22nd, with an impressive yield of 328.0%.
• 850,000 square meters of luxury retail and office space primarily in key cities across Asia.

Hongkong Land Holdings Ltd. (OTCMKTS:HNGKY - ) gapped up prior to trading on Tuesday . The stock had previously closed at $31.81, but opened at $32.96. Hongkong Land shares last traded at $32.96, with a volume of 696 shares traded.

Hongkong Land Price Performance

The firm's 50 day moving average price is $31.94 and its 200-day moving average price is $28.55.

Hongkong Land Cuts Dividend

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

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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