PCCW (OTCMKTS:PCWLF) Stock Price Down 7.9% - Here's What Happened

Key Points

• PCCW Ltd. shares fell by 7.9% during mid-day trading, reaching a low of $0.65, with trading volume down 81% from its average.
• The company announced a dividend payment of $0.0977 per share, which results in a high dividend yield of 710.0%.
• PCCW provides a range of telecommunications and related services across multiple regions, including Hong Kong and Mainland China.

Shares of PCCW Ltd. (OTCMKTS:PCWLF - Get Free Report) dropped 7.9% during trading on Friday . The company traded as low as $0.65 and last traded at $0.65. Approximately 490 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 2,623 shares. The stock had previously closed at $0.71.

PCCW Trading Up 5.0%

The firm's 50-day simple moving average is $0.68 and its 200 day simple moving average is $0.64.

PCCW Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, September 5th. Stockholders of record on Monday, August 18th will be issued a dividend of $0.0977 per share. This represents a dividend yield of 710.0%. The ex-dividend date is Friday, August 15th.

About PCCW

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.