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Hongkong Land (OTCMKTS:HNGKY) Trading Up 5% After Dividend Announcement

Hongkong Land logo with Finance background

Key Points

  • Shares of Hongkong Land Holdings Ltd. surged by 5% following the announcement of a dividend, closing at $31.90.
  • The company declared a dividend of $0.24 per share, set to be paid on October 22nd, which gives a remarkable dividend yield of 328.0%.
  • Hongkong Land operates in property investment and management, mainly in Hong Kong, Macau, and Mainland China, with around 850,000 square meters of office and retail assets.
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Hongkong Land Holdings Ltd. (OTCMKTS:HNGKY - Get Free Report) shares were up 5% during trading on Tuesday after the company announced a dividend. The company traded as high as $31.90 and last traded at $31.90. Approximately 420 shares traded hands during trading, a decline of 89% from the average daily volume of 3,953 shares. The stock had previously closed at $30.38.The newly announced dividend which will be paid on Wednesday, October 22nd. Stockholders of record on Monday, August 25th will be issued a dividend of $0.24 per share. This represents a dividend yield of 328.0%. The ex-dividend date is Friday, August 22nd.

Hongkong Land Price Performance

The stock has a 50 day moving average price of $30.65 and a two-hundred day moving average price of $25.75. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.18.

Hongkong Land Company Profile

(Get Free Report)

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.

Further Reading

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