Nikko AM bonds distribution change?

Just discovered today an additional distribution date was announced for July, it used to be annually. Now the yield for A35 is 3.13%?

Does anyone know what is going on?

Yes, it seems like they made an announcement in Feb to change distribution to semi-annual → General Announcement::CHANGE IN DISTRIBUTION FREQUENCY

As of why, it was not stated.

isn’t it strange that the yield increased significantly?

Yup. In this low yield environment, seems like the div is on the high side.

I do not think it is increased. It should be just 2 x of about 1%. It is just that due to the change in distribution frequency that messed up standard way of computing yields.