It has been a tough period for investors in Asia Broadband Inc (OTCMKTS:AABB) over the course of the past month as the stock continued to suffer from a selloff and recorded a decline of 20% during the period. Earlier this month, the company had come into focus after it had announced on September 14 that key details with regards to the dividends had been approved by its board.
On Monday, AABB stock decreased 3.68% to $0.0471 with more than 9.90 million shares, compared to its average volume of 10.31 million shares. The stock moved within a range of $0.0450 – 0.0497 after opening trade at $0.0497.
Asia Broadband Confirms Stock Dividend For September Shareholders of Record
Asia Broadband announced that it was going to award 1 restricted common share to each block of 100 shares that is owned by a shareholder or the beneficial owners. At the time, it had been announced that the restricted shares were going to be awarded on September 15, 2022.
Most of the shareholders are going to get their allocated dividend shares by way of a distribution process that is going to be conducted with their investment firms or their brokers. On the other hand, those shareholders who may have registered share certificates will be awarded the dividends through the mail. The company reiterated on that day that it was its policy to reward loyal shareholders for their support. It remains to be seen if the stock can recover any time soon.
AABB stock is trading below the 20-Day and 50-Day Moving averages of $0.0543 and $0.0581 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0935. The company has a total market capitalization of $116.29 million.