SingPost (S08.SI) shares are soaring 3.57% in Friday's trading session, following the company's announcement of a special dividend and strong annual financial results. The postal and e-commerce logistics services provider has captured investors' attention with its latest financial disclosures and strategic moves.

The company plans to pay a special dividend of 9 cents per share, drawn from an exceptional net gain of $222.2 million. This gain primarily stems from the recent divestment of its business in Australia, although it was partially offset by a $79.6 million impairment on another business, Quantium Solutions. Including the interim dividend of 0.34 cents already paid, shareholders are set to receive a total of 9.34 cents per share.

SingPost reported impressive earnings of $245.1 million for the year ended March 31, representing a substantial 78.3% year-over-year increase. However, the company faces challenges in the global logistics sector, with revenue down 7.5% year-over-year to $813.7 million. Despite these headwinds, SingPost is actively pursuing strategies to enhance its position in the e-commerce logistics market, including a $30 million investment in a new automation system at its Regional eCommerce Logistics Hub facility. The company remains engaged with the government to develop a future operating model that will ensure a profitable and sustainable footing for its postal service amid declining domestic mail volumes.