Power Assets (OTCMKTS:HGKGY) Shares Gap Down - What's Next?

Key Points

• Power Assets Holdings Ltd. shares gapped down from a previous close of $6.85 to open at $6.58, with the last traded price at $6.56.
• The company announced a significant dividend increase to $0.2425 per share, reflecting a yield of 484.0%, up from the previous amount of $0.08.
• Power Assets engages in electricity generation, transmission, and distribution across multiple regions including Hong Kong, the UK, and Australia, with a focus on thermal and renewable energy sources.

Power Assets Holdings Ltd. (OTCMKTS:HGKGY - ) shares gapped down prior to trading on Tuesday . The stock had previously closed at $6.85, but opened at $6.58. Power Assets shares last traded at $6.56, with a volume of 541 shares changing hands.

Power Assets Stock Performance

The company has a 50 day simple moving average of $6.52 and a 200-day simple moving average of $6.46. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.03.

Power Assets Increases Dividend

The company also recently declared a dividend, which was paid on Tuesday, June 17th. Shareholders of record on Wednesday, May 28th were given a dividend of $0.2425 per share. This is an increase from Power Assets's previous dividend of $0.08. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a yield of 484.0%.

Power Assets Company Profile

Power Assets Holdings Limited, an investment holding company, engages in the generation, transmission, and distribution of electricity in Hong Kong, the United Kingdom, Australia, Mainland China, and internationally. It generates energy from thermal, renewable energy, and waste sources. The company also transmits and distributes oil and gas; and provides trust administration and management services.

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