24/7 Market News Snapshot 26 August, 2024 – Tuya Inc. American Depositary Shares, each representing one Class A Ordinary Share (NYSE:TUYA)

August 26, 2024

DENVER, Colo., 26 August, 2024 (247marketnews.com) – (NYSE:TUYA) are discussed in this article.
Tuya Inc. has opened the trading day with a strong performance, commencing at $1.69 and experiencing a notable surge of approximately 12.20%, bringing the stock price to $1.84. This upward movement is accompanied by an impressive trading volume of 1.54 million shares, indicating heightened investor interest and a positive market outlook. Investors are encouraged to monitor key resistance levels around $1.90 and support near the opening price, as the continuation of this bullish momentum could attract further buying activity in the following sessions.

In addition to its trading success, Tuya has announced a significant financial initiative with the approval of a special cash dividend by its Board of Directors. The special dividend, amounting to US$0.0589 per ordinary share and per American Depository Share (ADS), reaffirms the company’s commitment to shareholder value. This distribution, totaling approximately US$33 million, will be funded through the company’s surplus cash reserves, demonstrating Tuya’s sound financial management and dedication to returning capital to investors.

The record date for shareholders to be eligible for this dividend is set for September 11, 2024, with expected payment dates around October 9, 2024, for ordinary shares, and October 15, 2024, for ADS holders. Tuya’s spokesperson stated that this announcement underscores the company’s focus on enhancing shareholder value while maintaining a robust balance sheet. As Tuya continues to advance its position within the smart solutions ecosystem, it remains committed to delivering innovative cloud platform solutions and fostering a community of partners and developers, ensuring strategic returns for its investors and positioning for sustainable growth in the technology sector.

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