Hongkong Land (OTCMKTS:HNGKY) Share Price Crosses Above 50-Day Moving Average - Here's What Happened

Key Points

• Hongkong Land's stock price recently crossed above its 50-day moving average of $30.86, reaching a high of $30.94 during trading.
• The company announced a dividend of $0.24 to be paid on October 22nd, representing a substantial yield of 328.0%.
• Hongkong Land Holdings is involved in the investment, development, and management of real estate across Hong Kong, Macau, and other regions, managing approximately 850,000 square meters of luxury retail and office properties.

Shares of Hongkong Land Holdings Ltd. (OTCMKTS:HNGKY - Get Free Report) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $30.86 and traded as high as $30.94. Hongkong Land shares last traded at $30.94, with a volume of 1,811 shares traded.

Hongkong Land Trading Up 2.1%

The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.30 and a current ratio of 1.30. The business's 50 day simple moving average is $31.12 and its 200 day simple moving average is $26.31.

Hongkong Land Cuts Dividend

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

Hongkong Land Company Profile

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.