City Developments Limited to Issue Annual Dividend of $0.08 (OTCMKTS:CDEVY)

City Developments Limited (OTCMKTS:CDEVY) declared an annual dividend on Saturday, February 27th, Zacks reports. Shareholders of record on Wednesday, May 5th will be given a dividend of 0.079 per share on Tuesday, June 1st. This represents a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, May 4th.

City Developments stock opened at $5.90 on Monday. The stock has a fifty day moving average price of $5.89 and a two-hundred day moving average price of $5.64. City Developments has a 52-week low of $4.50 and a 52-week high of $6.70. The firm has a market capitalization of $5.35 billion, a P/E ratio of 13.11 and a beta of 1.36.

A number of brokerages have recently weighed in on CDEVY. HSBC lowered City Developments from a “buy” rating to a “hold” rating in a research note on Monday, January 11th. The Goldman Sachs Group began coverage on City Developments in a research note on Tuesday, March 23rd. They issued a “buy” rating for the company. Finally, Zacks Investment Research lowered City Developments from a “hold” rating to a “sell” rating in a research note on Wednesday, March 3rd.

About City Developments

City Developments Limited (CDL) is a leading global real estate operating company with a network spanning 103 locations in 29 countries and regions. Listed on the Singapore Exchange, the Group is one of the largest companies by market capitalisation. Its income-stable and geographically-diverse portfolio comprises residences, offices, hotels, serviced apartments, integrated developments and shopping malls.

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