PCCW (OTCMKTS:PCCWY) Shares Gap Down - Here's Why

Key Points

• PCCW Ltd. shares gapped down, opening at $7.03 after previously closing at $7.50.
• The company announced a significant dividend increase to $0.3466 per share, resulting in a yield of 1,162.0%, a notable change from the previous dividend of $0.11.
• PCCW provides a variety of telecommunications services across Hong Kong, Mainland China, Singapore, and other international markets.

PCCW Ltd. (OTCMKTS:PCCWY - Get Free Report)'s share price gapped down prior to trading on Wednesday . The stock had previously closed at $7.50, but opened at $7.03. PCCW shares last traded at $7.50, with a volume of 558 shares trading hands.

PCCW Trading Down 11.6%

The stock's 50 day moving average is $7.05 and its 200 day moving average is $6.55. The company has a current ratio of 0.59, a quick ratio of 0.51 and a debt-to-equity ratio of 4.17.

PCCW Cuts Dividend

The business also recently announced a dividend, which will be paid on Friday, September 12th. Investors of record on Tuesday, August 19th will be given a dividend of $0.1045 per share. This represents a dividend yield of 676.0%. The ex-dividend date is Monday, August 18th.

PCCW Company Profile

PCCW Limited provides telecommunications and related services in Hong Kong, Mainland and other parts of China, Singapore, and internationally. The company's services include local telephony, local data and broadband, mobile, enterprise solutions, international telecommunications, and satellite-based and network-based telecommunications services; outsourcing, consulting, and contact center services; and technical consulting and engineering services.