Power Assets (OTCMKTS:HGKGY) Shares Down 5% - What's Next?

Key Points

• Power Assets Holdings Ltd.'s stock price decreased by 5%, closing at $6.27, with trading volume down 70% from its average.
• The company announced a substantial dividend increase to $0.2425 per share, translating to a remarkable dividend yield of 484.0%.
• Power Assets is involved in the generation, transmission, and distribution of electricity across various regions including Hong Kong and Australia.

Power Assets Holdings Ltd. (OTCMKTS:HGKGY - Get Free Report)'s share price dropped 5% on Friday . The stock traded as low as $6.27 and last traded at $6.27. Approximately 2,148 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 7,205 shares. The stock had previously closed at $6.60.

Power Assets Stock Down 2.8%

The company has a debt-to-equity ratio of 0.03, a current ratio of 0.86 and a quick ratio of 0.86. The company's 50-day simple moving average is $6.52 and its 200 day simple moving average is $6.47.

Power Assets Increases Dividend

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

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.