Short Interest in Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) Drops By 28.2%

Key Points

• Industrial & Commercial Bank of China Ltd. experienced a **28.2% decline** in short interest, with only **26,800 shares** sold short as of July 31st, representing **0.0%** of the company's shares.
• The bank has announced an **increased dividend** of **$0.3506** per share, payable on September 5th, up from the previous **$0.30**, which translates to a significant yield of **417.0%**.
• As of the latest market data, shares of the bank were trading at **$14.96**, with a market cap of **$266.59 billion** and a P/E ratio of **5.56**.

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY - Get Free Report) was the recipient of a large decline in short interest during the month of July. As of July 31st, there was short interest totaling 26,800 shares, adeclineof28.2% from the July 15th total of 37,300 shares. Based on an average daily trading volume, of 73,600 shares, the short-interest ratio is presently 0.4 days. Approximately0.0% of the shares of the company are short sold. Approximately0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 73,600 shares, the short-interest ratio is presently 0.4 days.

Industrial & Commercial Bank of China Ltd. Stock Performance

Shares of IDCBY traded up $0.15 on Friday, reaching $15.33. 48,370 shares of the company's stock traded hands, compared to its average volume of 36,762. The stock's 50 day simple moving average is $15.59 and its two-hundred day simple moving average is $14.64. The stock has a market cap of $273.19 billion, a PE ratio of 5.70 and a beta of 0.18. Industrial & Commercial Bank of China Ltd. has a 52-week low of $10.3840 and a 52-week high of $16.60. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.89.

Industrial & Commercial Bank of China Ltd. Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, July 4th will be paid a dividend of $0.3506 per share. This represents a dividend yield of 417.0%. The ex-dividend date is Thursday, July 3rd. This is a positive change from Industrial & Commercial Bank of China Ltd.'s previous dividend of $0.30. Industrial & Commercial Bank of China Ltd.'s dividend payout ratio (DPR) is presently 26.02%.

About Industrial & Commercial Bank of China Ltd.

Industrial and Commercial Bank of China Limited, together with its subsidiaries, provides banking products and services in the People's Republic of China and internationally. The company operates through Corporate Banking, Personal Banking, and Treasury Operations segments. The Corporate Banking segment offers financial products and services to corporations, government agencies, and financial institutions.