TCI Express' board of directors recommend third interim dividend Rs 1 per share
March 17, 2020: TCI Express, an express distribution player in India, announced that its board of directors has recommended third interim dividend for FY2020 of Rs 1 per share (face value per share of Rs 2/- each).
March 17, 2020: TCI Express, the express distribution player in India, announced that its board of directors has recommended third interim dividend for FY2020 of Rs 1 per share (face value per share of Rs 2/- each). Total dividend for the nine-month FY2020 period is Rs 4 per share with pay-out of 200% on the face value of the share.
The dividend including dividend distribution tax will result in a payout 26.4% on the EPS for nine-month FY2020 period.
The dividend will be paid to the shareholders whose name appear on the register of members on the record date i.e. March 21, 2020. The payment of dividend/dispatch of warrants will be completed within 30 days of declaration of 3rd interim dividend i.e. on or before April 11, 2020.
Chander Agarwal, managing director, said “Board of directors has recommended the third interim dividend during the year which is a testament to our commitment to continuously generate returns for our shareholders. We will continue to remain asset-light with a focus on delivering time-definite value-added services to our customers. TCI Express financial performance and robust cash flow are underpinned by its resilient business model. The Company is well-positioned to maintain its leadership position in the express logistics sector."