JE Cleantech shares fall 10.01% intraday after declaring $0.44 dividend from asset sale gain.

Je Cleantech Holdings (JCSE) fell 10.01% intraday following the announcement of a $0.44 per-share cash dividend, funded by a $2.85 million net gain from the sale of its Singapore industrial property. While the dividend typically signals shareholder returns, the move coincided with concerns over the company’s weak financial health, including a -9.38% net margin, a distress-level Altman Z-Score of 1.45, and a Beneish M-Score suggesting potential financial manipulation. Investors may have interpreted the payout as a liquidity-driven measure amid profitability challenges, triggering a sell-off. The stock’s sharp decline reflects skepticism about the sustainability of the dividend and underlying operational risks.