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

Key Points

• Pacific Basin Shipping shares gapped up from $5.88 to $6.20 prior to trading on Thursday, with a trading volume of 842 shares.
• The company has announced a dividend payment of $0.0326, which reflects a substantial yield of 228.0%.
• Pacific Basin Shipping has solid financial ratios, including a quick ratio of 1.18 and a debt-to-equity ratio of only 0.06.

Pacific Basin Shipping Ltd. (OTCMKTS:PCFBY - )'s share price gapped up prior to trading on Thursday . The stock had previously closed at $5.88, but opened at $6.20. Pacific Basin Shipping shares last traded at $6.20, with a volume of 842 shares.

Pacific Basin Shipping Stock Up 5.4%

The business's 50 day moving average is $5.72 and its 200-day moving average is $5.07. The company has a quick ratio of 1.18, a current ratio of 1.48 and a debt-to-equity ratio of 0.06.

Pacific Basin Shipping Cuts Dividend

The company also recently declared a dividend, which was paid on Friday, September 19th. Investors of record on Monday, August 25th were paid 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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