Pacific Basin Shipping (OTCMKTS:PCFBY) Shares Gap Down - Here's What Happened

Key Points

• Pacific Basin Shipping Ltd. shares gapped down, opening at $6.30 after closing at $6.49, signaling a decrease of 3.2% in their stock price.
• The company recently cut its dividend, declaring a $0.0326 payment which translates to a significant yield of 228.0%.
• Pacific Basin Shipping operates in the dry bulk shipping sector, providing services for a range of commodities including grains, ores, and fertilizers.

Shares of Pacific Basin Shipping Ltd. (OTCMKTS:PCFBY - ) gapped down prior to trading on Monday . The stock had previously closed at $6.49, but opened at $6.30. Pacific Basin Shipping shares last traded at $6.30, with a volume of 201 shares changing hands.

Pacific Basin Shipping Stock Down 3.2%

The business's fifty day moving average is $5.86 and its two-hundred day moving average is $5.23. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.48 and a quick ratio of 1.18.

Pacific Basin Shipping Cuts Dividend

The business also recently declared a dividend, which was paid on Friday, September 19th. Investors of record on Monday, August 25th were given a $0.0326 dividend. The ex-dividend date was Friday, August 22nd. This represents a yield of 228.0%.

About Pacific Basin Shipping

Pacific Basin Shipping Limited, an investment holding company, engages in the provision of dry bulk shipping services worldwide. The company offers its shipping services that mainly carry major and minor bulks, including grains, ores, logs/forest products, bauxite, sugar, concentrates, cement and clinkers, coal/coke, fertilizers, alumina, steel, pet-coke, salt, sand and gypsum, and scrap.

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