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

Key Points

• Oversea-Chinese Banking Corporation's share price gapped down, opening at $25.67 from a previous close of $27.25, with trading volume at 960 shares.
• The company announced a dividend increase to $0.5614 per share, effectively yielding 502.0%, set to be paid on September 5th to investors recorded on August 12th.
• Oversea-Chinese Banking holds a debt-to-equity ratio of 0.52 and reported a fifty-day simple moving average of $26.13.

Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY - Get Free Report)'s share price gapped down prior to trading on Monday . The stock had previously closed at $27.25, but opened at $25.67. Oversea-Chinese Banking shares last traded at $25.67, with a volume of 960 shares trading hands.

Oversea-Chinese Banking Price Performance

The business has a fifty day moving average price of $26.22 and a two-hundred day moving average price of $25.38. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.52.

Oversea-Chinese Banking Increases Dividend

The business also recently announced a dividend, which will be paid on Friday, September 5th. Shareholders of record on Tuesday, August 12th will be paid a dividend of $0.5614 per share. This represents a yield of 502.0%. This is a boost from Oversea-Chinese Banking's previous dividend of $0.24. The ex-dividend date of this dividend is Monday, August 11th.

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.