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

Key Points

• Pacific Basin Shipping shares experienced a gap down, opening at $6.01 after closing at $6.36, reflecting a 5.5% decline.
• The company announced a dividend of $0.0326 per share, yielding 228.0%, which was paid to shareholders on September 19th.
• Pacific Basin Shipping's debt-to-equity ratio stands at 0.06, indicating a healthy financial structure relative to its assets.

Pacific Basin Shipping Ltd. (OTCMKTS:PCFBY - )'s share price gapped down before the market opened on Monday . The stock had previously closed at $6.36, but opened at $6.01. Pacific Basin Shipping shares last traded at $6.01, with a volume of 627 shares changing hands.

Pacific Basin Shipping Trading Down 5.5%

The business's 50-day simple moving average is $5.80 and its two-hundred day simple moving average is $5.16. 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 company also recently announced a dividend, which was paid on Friday, September 19th. Shareholders of record on Monday, August 25th were issued a $0.0326 dividend. This represents a yield of 228.0%. The ex-dividend date of this dividend was Friday, August 22nd.

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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