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Special dividends really can be something to behold for income investors and we found one that dividend seekers may want to consider sooner rather than later. TransDigm Group (NYSE:TDG), a maker of aircraft components, has authorized a one-time special dividend of $7.65 a share. The dividend will be paid on October 26 to shareholders of record on October 16. So you'll have to act fast.

We should note that TransDigm doesn't pay a regular dividend, but the stock is nearing its 52-week high and is up about 32% in the past three months, so this is no slouch of a stock. The company said the recently completed sale of $425 million in senior notes along with $190 million in free cash will be used to finance the special dividend.

This is a powerful special dividend to be sure. Let's say you buy just 100 shares of TransDigm at $48 (near Tuesday's closing price) and the stock doesn't move for a while. With $765 in special dividends coming in, you've locked in a 15.9% return right off the bat. Sounds good to us.

Source: TransDigm Group: Quick Cash from Special Dividends