Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) Shares Gap Down - Time to Sell?

Key Points

• Industrial & Commercial Bank of China Ltd. shares gapped down to $14.48 from a previous close of $15.02, marking a 0.2% decrease in stock value.
• The company announced an increase in its dividend to $0.3506 per share, payable on September 5th, which is a rise from the previous dividend of $0.30, translating to a yield of 417.0%.
• Industrial & Commercial Bank of China Ltd. has a market capitalization of $267.13 billion and a debt-to-equity ratio of 1.89, highlighting its financial positioning.

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY - Get Free Report)'s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $15.02, but opened at $14.48. Industrial & Commercial Bank of China Ltd. shares last traded at $15.02, with a volume of 12,198 shares traded.

Industrial & Commercial Bank of China Ltd. Price Performance

The company has a debt-to-equity ratio of 1.89, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a 50-day moving average of $15.59 and a 200-day moving average of $14.65. 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. Increases Dividend

The business also recently disclosed a dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, July 4th will be issued a dividend of $0.3506 per share. This is a boost from Industrial & Commercial Bank of China Ltd.'s previous dividend of $0.30. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a dividend yield of 417.0%. Industrial & Commercial Bank of China Ltd.'s payout ratio is currently 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.