Shangri-La Asia (OTCMKTS:SHALY) Shares Down 7.7% - Time to Sell?

Key Points

• Shangri-La Asia Ltd. shares declined by 7.7% on Tuesday, with a closing price of $11.95, despite a trading volume increase of 13% from the daily average.
• The company announced a dividend of $0.1284, with a notable dividend yield of 348.0%, payable on October 20th.
• Shangri-La Asia operates hotels and associated properties globally, along with segments in property development and restaurant management.

Shangri-La Asia Ltd. (OTCMKTS:SHALY - )'s stock price was down 7.7% on Tuesday . The company traded as low as $11.95 and last traded at $11.95. Approximately 1,120 shares traded hands during mid-day trading, an increase of 13% from the average daily volume of 988 shares. The stock had previously closed at $12.95.

Shangri-La Asia Price Performance

The business's 50 day moving average price is $11.15 and its 200-day moving average price is $10.86.

Shangri-La Asia Cuts Dividend

The business also recently announced a dividend, which will be paid on Monday, October 20th. Stockholders of record on Monday, September 29th will be paid a $0.1284 dividend. This represents a dividend yield of 348.0%. The ex-dividend date is Friday, September 26th.

About Shangri-La Asia

Shangri-La Asia Limited, an investment holding company, develops, owns/leases, operates, and manages hotels and associated properties worldwide. It operates through Hotel Properties, Hotel Management and Related Services, Investment Properties, and Property Development for Sale segments. The company develops, owns, and operates office and commercial properties, and serviced apartments/residences; and operates restaurants and amusement parks.

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