Shares of John B Sanfilippo & Son (JBSS) are soaring in intraday trading, with the stock price surging 10.47% following the company's announcement of a special dividend. The significant uptick reflects strong investor enthusiasm for the unexpected payout to shareholders.

The snack and nut products manufacturer declared a special dividend of $1 per share, which is set to be paid on December 30 to shareholders of record as of December 1. This one-time payout comes in addition to any regular dividends the company may declare, signaling strong financial health and a commitment to returning value to shareholders. The special dividend announcement came as a pleasant surprise to investors, explaining the substantial jump in the stock price.

The market's robust reaction suggests that this special dividend is being viewed as a positive indicator of John B Sanfilippo & Son's current financial position and future prospects. Special dividends are often perceived favorably by the market as they represent additional value being returned to shareholders beyond regular dividend payments. This move could potentially make JBSS more attractive to income-focused investors and may signal management's confidence in the company's financial stability and cash flow generation capabilities.