Highway Holdings Limited (NASDAQ:HIHO) Plans Special Dividend of $0.05

Highway Holdings Limited (NASDAQ:HIHO) announced a special dividend on Monday, July 27th. Stockholders of record on Saturday, August 8th will be given a dividend of 0.05 per share by the industrial products company on Tuesday, September 22nd. The ex-dividend date of this dividend is Friday, August 7th.

Highway has decreased its dividend by an average of 1.0%per year over the last three years.

Highway Stock Up 8.7%

Shares of NASDAQ:HIHO opened at $1.13 on Tuesday. Highway has a fifty-two week low of $0.60 and a fifty-two week high of $2.21. The company has a quick ratio of 1.78, a current ratio of 2.23 and a debt-to-equity ratio of 0.07. The firm’s 50-day simple moving average is $0.83 and its 200-day simple moving average is $0.87. The company has a market cap of $5.23 million, a price-to-earnings ratio of -3.53 and a beta of 0.49.

Hedge Funds Weigh In On Highway

A hedge fund recently bought a new position in Highway stock. Jane Street Group LLC bought a new position in shares of Highway Holdings Limited (NASDAQ:HIHO) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 24,122 shares of the industrial products company’s stock, valued at approximately $38,000. Jane Street Group LLC owned approximately 0.52% of Highway as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 13.19% of the company’s stock.

Highway Company Profile

Highway 33 Acquisition Corp. (NASDAQ: HIHO) is a special purpose acquisition company formed to raise capital through an initial public offering for the purpose of effecting a merger, stock exchange, asset acquisition, stock purchase or similar business combination with one or more businesses. As a blank‐check vehicle, the company does not have commercial operations of its own but instead seeks to partner with an established private company to bring it public through a business combination.

Since completing its initial public offering in 2021, the company has focused on identifying target businesses in growth‐oriented industries, including technology, consumer products and specialty manufacturing.