Lenovo Group (OTCMKTS:LNVGY) Shares Gap Down - Here's What Happened

Key Points

• Lenovo Group shares gapped down from a previous close of $29.72 to an opening price of $28.46, before last trading at $29.68.
• The company announced a significant dividend increase, raising its payout from $0.20 to $0.7593 per share, resulting in a 366.0% yield.
• Lenovo Group has a market capitalization of $18.44 billion and a PE ratio of 11.89, indicating stable performance in the technology sector.

Lenovo Group Ltd. (OTCMKTS:LNVGY - ) shares gapped down prior to trading on Thursday . The stock had previously closed at $29.72, but opened at $28.46. Lenovo Group shares last traded at $29.68, with a volume of 1,227 shares.

Lenovo Group Price Performance

The company has a market capitalization of $18.44 billion, a PE ratio of 11.89, a PEG ratio of 0.64 and a beta of 0.73. The firm has a fifty day moving average of $29.28 and a two-hundred day moving average of $25.79. The company has a current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 0.59.

Lenovo Group Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, August 20th. Investors of record on Friday, August 1st were issued a dividend of $0.7593 per share. The ex-dividend date was Thursday, July 31st. This represents a yield of 366.0%. This is a boost from Lenovo Group's previous dividend of $0.20. Lenovo Group's dividend payout ratio (DPR) is currently 60.40%.

About Lenovo Group

Lenovo Group Limited, an investment holding company, develops, manufactures, and markets technology products and services. It operates through Intelligent Devices Group, Infrastructure Solutions Group, and Solutions and Services Group segments. The company offers commercial and consumer personal computers, as well as servers and workstations; and a family of mobile Internet devices, including tablets and smartphones.

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