Distribution and supply chain solutions provider, Gati Ltd, has announced a 30 per cent special dividend per share of face value of Rs 2 each for the year-ended June 30, 2012.
The dividend announcement is to mark the consummation of its joint venture with Kintetsu World Express.
Kintetsu World Express has invested Rs 267.7 crore in Gati for a 30 per cent stake in the joint venture company, Gati-Kintetsu Express Pvt Ltd.
The fund infusion will substantially reduce its debt and hence cut its interest cost by half from the current Rs 50 crore.