The dividend isn't the reason the stock is moving people. They paid out 10 last year and probably 12 this year. The reason is because Wall Street finally recognizes value here the P/E forward is 2.5 to 3 currently and they have a great balance sheet.
Also, chinese stocks have had a nice start to 2012. Past 2 years china took a beating. It's the perfect storm for this stock. If this suprises you, you have seen nothing yet. This could hit 15 to 20 in 2 years based purely on P/E and consistent earnings.
XIN will have it's down days too, but the long term trend is shifting and could stay that way now for a long time. The sector also may run for awhile. Enjoy it longs.