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

Key Points

• Lenovo Group's stock gapped up from $29.91 to $31.51 before opening at $30.42, indicating a significant market interest with a trading volume of 913 shares.
• The company announced a substantial dividend increase to $0.7593, up from the previous $0.20, resulting in a high dividend yield of 366.0%.
• Lenovo has a market cap of $18.74 billion and strong financial ratios, including a P/E ratio of 12.09, suggesting solid valuation metrics.

Lenovo Group Ltd. (OTCMKTS:LNVGY - ) gapped up before the market opened on Thursday . The stock had previously closed at $29.91, but opened at $31.51. Lenovo Group shares last traded at $30.42, with a volume of 913 shares trading hands.

Lenovo Group Stock Performance

The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.67 and a current ratio of 0.95. The business's 50-day moving average price is $28.58 and its 200-day moving average price is $25.75. The stock has a market cap of $18.74 billion, a P/E ratio of 12.09, a P/E/G ratio of 0.64 and a beta of 0.73.

Lenovo Group Increases Dividend

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

Lenovo Group Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.