Why Shares of JD.com Are Rising Today

Shares of the Chinese e-commerce company JD.com (NASDAQ: JD) shook off a tough day of trading in the broader market and had risen roughly 4.4% as of 12:15 p.m. ET today after the company announced it may issue a special cash dividend.

JD.com in a regulatory filing said if its board of directors approves the special dividend, it will be adopted and declared around May 4.

The announcement seemed to catch the market off guard, although Citigroup analyst Alicia Yap wrote in a note to clients that the announcement shows confidence in JD.com's future and its potential future cash flow.

Source Fool.com