PCCW (OTCMKTS:PCWLF) Shares Gap Down - Here's What Happened

Key Points

• PCCW Ltd. shares gapped down to $0.65 after closing at $0.71, marking a decrease of 7.3% in its trading price.
• The company has declared an increased dividend of $0.2848 per share, significantly higher than the previous $0.10 per share, resulting in a remarkable dividend yield of 1,259.0%.
• PCCW provides a range of telecommunications and related services in Hong Kong, China, and internationally, including local telephony, broadband, and mobile services.

PCCW Ltd. (OTCMKTS:PCWLF - Get Free Report) shares gapped down prior to trading on Monday . The stock had previously closed at $0.71, but opened at $0.65. PCCW shares last traded at $0.65, with a volume of 1,280 shares traded.

PCCW Price Performance

The stock's 50-day moving average is $0.68 and its two-hundred day moving average is $0.63.

PCCW Increases Dividend

The company also recently declared a dividend, which was paid on Friday, June 20th. Stockholders of record on Tuesday, May 20th were issued a $0.2848 dividend. The ex-dividend date was Monday, May 19th. This represents a dividend yield of 1,259.0%. This is an increase from PCCW's previous dividend of $0.10.

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.