Allcargo extends gains to third straight day after logistics company declares dividend — check out record date and payment date

Allcargo Logistics Dividend: Allcargo Logistics announced an interim dividend of Rs 3.25 per share on Monday, and fixed March 15 as the record date for the payout.

Allcargo Logistics Dividend: The company has fixed March 15 as the record date for the dividend. Image: Pixabay

Allcargo Logistics Dividend Record Date 2023: Shares in Allcargo Logistics – a logistics solutions company – swung between gains and losses on Wednesday after the company announced an interim dividend of Rs 3.25 per share. The Allcargo stock gained as much as 2.6 per cent to Rs 384 apiece on BSE.

Allcargo dividend announcement

After market hours on Monday, the Allcargo board announced the dividend of Rs 3.25 per share (162.5 per cent).

Also Read: Dividend Stocks: 10 PSU stocks with highest dividend yield

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Allcargo Logistics dividend: Record date

Allcargo Logistics' board set a record date of March 15 for the dividend. A record date determines the shareholders eligible to receive a dividend payout.

It said the dividend will be paid to eligible shareholders on or after March 16, 2023.

Also Read: DPIIT starting exercise to prepare logistics cost framework

Allcargo Logistics buys out partner’s 38.87% stake

The Allcargo Logistics board also approved a plan to acquire a 38.87 per cent stake from its partners CCI Integrated Logistics at an enterprise value of Rs 373 crores.

Besides, the board also approved the sale of smaller non-core customs clearance businesses. Allcargo Logistics will sell its 61.13 per cent stake in this business for an enterprise value of Rs 42 crore, according to a company statement.

Allcargo Logistics is a part of the Allcargo Group and a wholly-owned subsidiary of Allcargo Belgium NV.

Also Read: Welspun One Logistics Parks inks pact with UP govt to invest Rs 2,000 cr

Allcargo is the market leader with a pan-India presence in the Container Freight Station business. It is recognised for digitising the logistics industry, setting the highest quality standards, operational excellence, and customer centricity across all businesses.

The Indian financial market remained shut on Tuesday for Holi.

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