Special dividends can really boost a company's share price, especially for those with lots of cash and low CAPEX. Before the recent tax on dividends, $HLIND / 3301 (HONG LEONG INDUSTRIES BERHAD) paid out a special dividend, which helped its stock price soar. On the other hand, $KSL / 5038 (KSL HOLDINGS BERHAD), a company with a low P/E ratio of just 4.3, has seen its stock price stagnate because it hasn't paid any dividends, even though it is in the net cash position (But I didn't follow up its latest QR so I am not sure about its latest financial performance).