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

Key Points

• Oversea-Chinese Banking Corporation Limited shares gapped up from a closing price of $25.99 to an opening price of $27.14, and last traded at $26.49 with a volume of 494 shares.
• The company announced a dividend increase to $0.5614 per share, scheduled for payment on September 5th, up from the previous $0.24, resulting in an impressive dividend yield of 502.0%.
• Key financial ratios include a current ratio of 0.91, a quick ratio of 0.91, and a debt-to-equity ratio of 0.52, reflecting the company's financial stability.

Shares of Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY - ) gapped up before the market opened on Tuesday . The stock had previously closed at $25.99, but opened at $27.14. Oversea-Chinese Banking shares last traded at $26.49, with a volume of 494 shares traded.

Oversea-Chinese Banking Stock Up 0.5%

The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.52. The firm's fifty day moving average is $26.15 and its 200 day moving average is $25.37.

Oversea-Chinese Banking Increases Dividend

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

About Oversea-Chinese Banking

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.

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