Treasury Wine Estates (OTCMKTS:TSRYY) Shares Gap Up - Still a Buy?

Key Points

• Treasury Wine Estates' shares opened at $5.55, up from the previous close of $5.19, with a last traded price of $5.10.
• The company announced a dividend increase to $0.0393 per share, with a yield of 426.0%, despite a negative dividend payout ratio of -141.03%.
• Treasury Wine Estates operates globally with a diverse portfolio of wine brands, including luxury and premium lines such as Penfolds and 19 Crimes.

Shares of Treasury Wine Estates Ltd. (OTCMKTS:TSRYY - ) gapped up prior to trading on Wednesday . The stock had previously closed at $5.19, but opened at $5.55. Treasury Wine Estates shares last traded at $5.10, with a volume of 576 shares changing hands.

Treasury Wine Estates Price Performance

The firm's fifty day moving average is $5.14 and its 200-day moving average is $5.57. The firm has a market cap of $4.16 billion and a price-to-earnings ratio of -32.88.

Treasury Wine Estates Increases Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.0393 per share. This is an increase from Treasury Wine Estates's previous dividend of $0.04. This represents a dividend yield of 426.0%. The ex-dividend date is Thursday, August 28th. Treasury Wine Estates's dividend payout ratio (DPR) is currently -141.03%.

About Treasury Wine Estates

Treasury Wine Estates Limited operates as a wine company primarily in Australia, New Zealand, Asia, Europe, the United Kingdom, the Middle East, Africa, and the Americas. The company engages in the viticulture and winemaking; and marketing, sale, and distribution of wine. Its wine portfolio includes luxury, premium and commercial wine brands, such as 19 Crimes, Acacia Vineyard, Annie's Lane, Beaulieu Vineyard, Belcreme de Lys, Beringer Vineyards, Blossom Hill, Cavaliere d'Oro, Coldstream Hills, Devil's Lair, EMBRAZEN, Etude, Fifth Leg, Heemskerk, Hewitt Vineyard, Ingoldby, Jamieson's Run, Killawarra, Leo Buring, Lindeman's, Maison de Grand Esprit, Matua, Penfolds, Pepperjack, Rawson's Retreat, Rosemount Estate, Run Riot, Saltram, Samuel Wynn & Co, Secret Stone, Seppelt, Shingle Peak, Sledgehammer, Squealing pig, St Huberts, Stags' Leap Winery, Stellina di Notte, Sterling Vineyards, T'Gallant, The Walking Dead Wine, Wolf Blass, Wynns Coonawarra Estate, and Yellowglen.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.