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2 Logistics Companies Likely To Announce 2nd Interim Dividend For Fy22
Dividends are a source of passive income and hence investors try to chase dividend paying stocks. Nevertheless, a good amount of research is involved to pick the right stocks that yield dividends and at the same time have the potential to appreciate in price. So, here are 2 such companies from the logistics space that may announce interim dividends in their upcoming board meeting.
Transport Corporation of India:
The small cap company from the transport and logistics space in an exchange filing dated January 19, 2022 said that "In continuation of our letter dated 28th December 2021, regarding intimation of Board Meeting to be held on January 27, 2022, we wish to inform you that the Board of Directors of the Company may also consider payment of 2nd interim dividend, if any for financial year 2021-22. If declared, the Record Date for the purpose would be February 4, 2022, as decided in due consultation with the Stock Exchanges".
Earlier the company announced an interim dividend of Rs. 2 per share for Fy22 for which the stock traded ex-dividend from November 8, 2021. For the Fy 2021, the company declared an equity dividend of 125% amounting to Rs 2.5 per share. At the current share price of Rs 812.55 this results in a dividend yield of 0.31%. The scrip in the last 1-year has given multibagger returns to the tune of 228%.
In existence for close to 6 decades, Transport Corporation is the country's leading multimodal logistics service provider that is setting new benchmarks and delivering excellence in logistics and supply chain.
TCI Express:
This is another small cap scrip from the transport and logistics sector that is likely to consider 2nd interim dividend. The company in a filing dated January 19, 2022 said, "In continuation of our letter dated December 28 2021, regarding intimation of Board Meeting to be held on Friday, January 28, 2022, we wish to inform you that the Board of Directors of the Company may also consider payment of 2nd interim dividend, if any for financial year 2021-22 in the said meeting. If declared, the Record Date for the purpose would be Saturday, February 05, 2022, as decided in due consultation with the Stock Exchanges."
For the Fy 22, the company declared Rs. 3 per share interim dividend earlier in respect of which the stock traded ex-dividend on October 28, 2021. For Fy21, the company announced Rs. 4 as dividend that at the current share price of Rs. 2190 results in a dividend yield of 0.18%. Tbis scrip is another one from the sector that has doubled investors' money during the last 1-year by offering returns of 137%.
TCI Express which was hived off from TCI XPS has its prime focus on express cargo distribution and gives higher emphasis to the ever-growing ecommerce industry. The company has its forte in providing time definite solutions.
| Transport and logistics company | Board meeting date to consider 2nd interim dividend | Record date if dividend declared |
|---|---|---|
| Transport Corporation Of India | January 27, 2022 | February 4, 2022 |
| TCI Express | January 28, 2022 | February 5, 2022 |
Disclaimer:
The article is solely for informational purpose and is not a recommendation to buy in these shares just for the likely dividend that is expected to be announced by these companies.
