Japan Power Fastening (日本パワーファスニング) astounds with a sudden interim dividend translating to a 16.5% yield!

 

Having already purchased almost exactly a year ago for ¥122, I decided to average down on 31st May with a view to maximising the yield from a ¥2.50 dividend due to go ex- at the end of 2024, emboldened by a flurry of buying activity a month before that sent its price to a high of ¥166. 

On hindsight, that was most probably agitated by insider trading involving first recipients of leaked information of the ¥20 'dividend from surplus' due to the company's plant closure in China, in addition to news that its 24% major holder Sekisui House was selling out to a subsidiary of S & K Polytech of S. Korea, though for only ¥114 per share. 

After hours, the price unsurprisingly reaches limit UP at ¥171 !