Oversea-Chinese Banking (OTCMKTS:OVCHY) Shares Gap Down - Here's What Happened

Key Points

• Oversea-Chinese Banking's share price gapped down from $26.19 to open at $25.40, before last trading at $26.38.
• The company recently increased its dividend to $0.5614, yielding 502.0%, a significant rise from the previous dividend of $0.24.
• Oversea-Chinese Banking has a debt-to-equity ratio of 0.52 and a current ratio of 0.91, indicating its financial stability.

Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY - Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $26.19, but opened at $25.40. Oversea-Chinese Banking shares last traded at $26.38, with a volume of 619 shares.

Oversea-Chinese Banking Price Performance

The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.52. The stock's fifty day moving average price is $26.36 and its two-hundred day moving average price is $25.41.

Oversea-Chinese Banking Increases Dividend

The company also recently announced a dividend, which was paid on Friday, September 5th. Investors of record on Tuesday, August 12th were paid a $0.5614 dividend. The ex-dividend date of this dividend was Monday, August 11th. This is a positive change from Oversea-Chinese Banking's previous dividend of $0.24. This represents a dividend yield of 502.0%.

Oversea-Chinese Banking Company Profile

Oversea-Chinese Banking Corporation Limited engages in the provision of financial services in Singapore, Malaysia, Indonesia, Greater China, rest of the Asia Pacific, and internationally. The company's Global Consumer/Private Banking segment provides products and services to individual customers, including checking accounts, and savings and fixed deposits; housing and other personal loans; credit cards; wealth management products consisting of unit trusts, banc assurance products, and structured deposits; and brokerage services.