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

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.

Shares of Hongkong Land Holdings Ltd. (OTCMKTS:HNGKY - Get Free Report) shot 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. 420 shares were traded during mid-day trading, a decline of 89% from the average session 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 $0.24 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a dividend yield of 328.0%.

Hongkong Land Stock Up 1.8%

The stock has a fifty day moving average price of $30.78 and a 200-day moving average price of $25.96. 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

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.