10% Dividend: Small Cap Shipping Stock Fixes Record Date, Turning Ex-Dividend On Aug 25

SEAMEC Ltd. on Friday, Aug 18, in an exchange filing informed the stock exchanges that the company's Board has fixed the record date as Friday, Aug 25, 2023, for the interim dividend.

The Board has recommended an interim dividend at 10% i.e. Rs 1 per equity share of Rs 10 each for the financial year 2023-24. The said dividend will be paid on or before Sept 1, 2023, to those equity shareholders holding shares on the fixed record date.

"We had intimated the Record Date of Friday, August 25, 2023 for the Interim Dividend 2023-24 declared by the Board of Directors at its meeting held on August 10, 2023," the Board said in an exchange filing.

Board added, "This is to re-iterate that the Board of Directors have declared an Interim Dividend at the rate of 10%, i.e. INR 1 per equity share of Rs. 10 each to be paid on or before September 1, 2023 to those Equity Shareholders holding shares as on the Record Date of Friday, August 25, 2023."

On Friday, SEAMEC shares closed 1.31% lower at Rs 672.65 per share on BSE. It hit intraday highs and lows at Rs 689.05 and Rs 670, respectively. The stock hit 52-week high at Rs 1274.95 and 52-week low at Rs 563.30, respectively.

The stock has fallen 7.02% in the last 1 week, while in the last 1 month, it has fallen 6.70%. In 1 and 2 years, it has fallen 22.51% and 7.11%, respectively. In 3 years, it has given 68.02% positive return, while in 5 years, it has given 127.29% positive return.

SEAMEC Ltd is a Shipping sector company that owns and operates 4 multi-support vessels for the provision of diving services, manned and unmanned subsea operations and related activities. It has also diversified into the main fleet shipping vertical by acquiring 3 bulk carriers of various sizes. It is a small cap company with a market cap of Rs 1,710.21 Crore.

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